Bank of Nova Scotia Buys Shares of 308,500 Axalta Coating Systems Ltd. $AXTA

Bank of Nova Scotia purchased a new stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) during the second quarter, Holdings Channel.com reports. The fund purchased 308,500 shares of the specialty chemicals company’s stock, valued at approximately $9,159,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Westwood Holdings Group Inc. lifted its stake in shares of Axalta Coating Systems by 22.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 717,059 shares of the specialty chemicals company’s stock valued at $21,289,000 after buying an additional 130,347 shares in the last quarter. Prudential Financial Inc. grew its stake in Axalta Coating Systems by 185.9% in the 2nd quarter. Prudential Financial Inc. now owns 139,240 shares of the specialty chemicals company’s stock valued at $4,134,000 after buying an additional 90,546 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Axalta Coating Systems by 327.5% during the 1st quarter. MetLife Investment Management LLC now owns 525,469 shares of the specialty chemicals company’s stock valued at $17,430,000 after acquiring an additional 402,552 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Axalta Coating Systems by 159.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 39,651 shares of the specialty chemicals company’s stock worth $1,224,000 after acquiring an additional 24,345 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Axalta Coating Systems by 3.2% during the first quarter. JPMorgan Chase & Co. now owns 11,637,025 shares of the specialty chemicals company’s stock worth $386,000,000 after acquiring an additional 356,143 shares in the last quarter. Institutional investors own 98.28% of the company’s stock.

Analyst Ratings Changes

AXTA has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Axalta Coating Systems in a research report on Wednesday, October 8th. Evercore ISI restated an “in-line” rating and issued a $32.00 target price (down previously from $47.00) on shares of Axalta Coating Systems in a research note on Thursday, October 2nd. KeyCorp reiterated a “sector weight” rating on shares of Axalta Coating Systems in a research report on Wednesday, October 29th. Bank of America lowered their price target on shares of Axalta Coating Systems from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Axalta Coating Systems from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Axalta Coating Systems has a consensus rating of “Moderate Buy” and a consensus target price of $36.06.

Axalta Coating Systems Stock Performance

NYSE:AXTA opened at $29.20 on Thursday. The business’s 50-day moving average price is $28.64 and its two-hundred day moving average price is $29.60. Axalta Coating Systems Ltd. has a twelve month low of $26.28 and a twelve month high of $39.35. The stock has a market cap of $6.23 billion, a P/E ratio of 13.97, a PEG ratio of 1.12 and a beta of 1.29. The company has a quick ratio of 1.59, a current ratio of 2.20 and a debt-to-equity ratio of 1.45.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.64 by $0.03. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.31 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 8.81%.Axalta Coating Systems’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 earnings per share. Axalta Coating Systems has set its Q4 2025 guidance at 0.600-0.600 EPS and its FY 2025 guidance at 2.500-2.500 EPS. As a group, equities analysts predict that Axalta Coating Systems Ltd. will post 2.55 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.