Axalta Coating Systems Ltd. $AXTA Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 19.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,328,994 shares of the specialty chemicals company’s stock after selling 318,340 shares during the period. Bank of New York Mellon Corp’s holdings in Axalta Coating Systems were worth $36,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in Axalta Coating Systems by 197.7% during the fourth quarter. Covestor Ltd now owns 908 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 603 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Axalta Coating Systems in the 4th quarter valued at $30,000. Cedar Mountain Advisors LLC acquired a new stake in Axalta Coating Systems during the first quarter worth about $30,000. Summit Securities Group LLC purchased a new stake in shares of Axalta Coating Systems during the 4th quarter valued at approximately $32,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Axalta Coating Systems in the 4th quarter valued at $35,000. 98.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on AXTA. The Goldman Sachs Group set a $36.00 price target on shares of Axalta Coating Systems in a research note on Friday, May 1st. Citigroup assumed coverage on Axalta Coating Systems in a research report on Thursday, June 4th. They set a “buy” rating and a $44.00 target price on the stock. Wells Fargo & Company lowered Axalta Coating Systems from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $39.00 to $30.00 in a report on Friday, April 10th. Royal Bank Of Canada increased their price target on shares of Axalta Coating Systems from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised Axalta Coating Systems to a “buy” rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.67.

Axalta Coating Systems Price Performance

AXTA opened at $32.76 on Friday. The company has a 50-day moving average of $32.35 and a 200-day moving average of $31.23. Axalta Coating Systems Ltd. has a 1-year low of $24.94 and a 1-year high of $35.72. The company has a market capitalization of $7.01 billion, a P/E ratio of 19.16, a PEG ratio of 1.60 and a beta of 1.24. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.53 and a current ratio of 2.10.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Thursday, April 30th. The specialty chemicals company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06. Axalta Coating Systems had a net margin of 7.22% and a return on equity of 22.37%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $0.59 earnings per share. Axalta Coating Systems’s revenue was down .6% compared to the same quarter last year. Axalta Coating Systems has set its FY 2026 guidance at 2.550-2.70 EPS and its Q2 2026 guidance at 0.650-0.65 EPS. Equities analysts expect that Axalta Coating Systems Ltd. will post 2.59 EPS for the current fiscal year.

Axalta Coating Systems Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.