Traders Buy High Volume of Axalta Coating Systems Call Options (AXTA)

Axalta Coating Systems Ltd (NYSE:AXTA) was the recipient of some unusual options trading activity on Thursday. Stock investors purchased 19,188 call options on the stock. This represents an increase of 2,536% compared to the average volume of 728 call options.

In other news, EVP Steven R. Markevich sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $29.42, for a total value of $26,478.00. Following the completion of the transaction, the executive vice president now directly owns 201,393 shares in the company, valued at approximately $5,924,982.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael A. Cash sold 34,874 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $30.00, for a total transaction of $1,046,220.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Axalta Coating Systems by 3.8% in the second quarter. Vanguard Group Inc. now owns 18,161,002 shares of the specialty chemicals company’s stock valued at $581,878,000 after acquiring an additional 660,223 shares during the period. Diamond Hill Capital Management Inc. raised its stake in Axalta Coating Systems by 3.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 10,292,166 shares of the specialty chemicals company’s stock valued at $297,649,000 after purchasing an additional 308,016 shares in the last quarter. Davis Selected Advisers raised its stake in Axalta Coating Systems by 30.1% in the third quarter. Davis Selected Advisers now owns 9,402,305 shares of the specialty chemicals company’s stock valued at $271,921,000 after purchasing an additional 2,173,915 shares in the last quarter. Timucuan Asset Management Inc. FL raised its stake in Axalta Coating Systems by 1.0% in the second quarter. Timucuan Asset Management Inc. FL now owns 3,743,877 shares of the specialty chemicals company’s stock valued at $119,954,000 after purchasing an additional 36,234 shares in the last quarter. Finally, State Street Corp raised its stake in Axalta Coating Systems by 11.2% in the second quarter. State Street Corp now owns 3,642,670 shares of the specialty chemicals company’s stock valued at $116,710,000 after purchasing an additional 365,915 shares in the last quarter. Institutional investors own 99.28% of the company’s stock.

Axalta Coating Systems (NYSE:AXTA) opened at $32.33 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.50 and a debt-to-equity ratio of 2.69. The firm has a market cap of $7,559.85, a PE ratio of 27.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.55. Axalta Coating Systems has a 1 year low of $25.20 and a 1 year high of $38.20.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Axalta Coating Systems had a net margin of 1.46% and a return on equity of 19.91%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $0.33 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. sell-side analysts expect that Axalta Coating Systems will post 1.15 EPS for the current fiscal year.

A number of research firms recently issued reports on AXTA. Citigroup lowered their price objective on shares of Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, August 7th. BidaskClub raised shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Instinet reaffirmed a “neutral” rating and issued a $28.00 price objective (down from $30.00) on shares of Axalta Coating Systems in a research note on Friday, October 13th. Robert W. Baird reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Axalta Coating Systems in a research note on Monday, October 30th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Axalta Coating Systems in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $33.73.

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Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.

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