New York State Common Retirement Fund Sells 33,036 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

New York State Common Retirement Fund decreased its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,474 shares of the specialty chemicals company’s stock after selling 33,036 shares during the period. New York State Common Retirement Fund owned 0.08% of Axalta Coating Systems worth $6,368,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AXTA. Wellington Management Group LLP lifted its position in shares of Axalta Coating Systems by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock worth $125,292,000 after purchasing an additional 382,949 shares during the last quarter. Hawk Ridge Capital Management LP boosted its position in shares of Axalta Coating Systems by 49.3% in the third quarter. Hawk Ridge Capital Management LP now owns 2,952,198 shares of the specialty chemicals company’s stock valued at $79,414,000 after acquiring an additional 974,973 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Axalta Coating Systems by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock valued at $362,366,000 after acquiring an additional 1,415,723 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Axalta Coating Systems by 11.5% in the third quarter. The Manufacturers Life Insurance Company now owns 2,644,246 shares of the specialty chemicals company’s stock worth $71,130,000 after acquiring an additional 272,455 shares during the last quarter. Finally, Prospector Partners LLC increased its position in Axalta Coating Systems by 10.2% during the third quarter. Prospector Partners LLC now owns 323,930 shares of the specialty chemicals company’s stock worth $8,714,000 after acquiring an additional 29,930 shares during the period. 98.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AXTA has been the subject of a number of research reports. UBS Group downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and increased their price target for the company from $35.00 to $36.00 in a report on Monday, January 8th. Wells Fargo & Company lifted their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 9th. Royal Bank of Canada upped their price target on Axalta Coating Systems from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets lifted their price objective on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Robert W. Baird boosted their price objective on Axalta Coating Systems from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Axalta Coating Systems Stock Up 1.1 %

AXTA opened at $35.21 on Friday. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 1.10 and a beta of 1.51. Axalta Coating Systems Ltd. has a twelve month low of $25.03 and a twelve month high of $35.31. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.46 and a current ratio of 2.07. The firm’s 50-day simple moving average is $32.78 and its 200-day simple moving average is $31.82.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Equities research analysts anticipate that Axalta Coating Systems Ltd. will post 1.9 EPS for the current fiscal year.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through two segments, Performance Coatings and Mobility Coatings.