M&T Bank Corp trimmed its position in shares of Axalta Coating Systems Ltd (NYSE:AXTA) by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,258 shares of the specialty chemicals company’s stock after selling 5,762 shares during the quarter. M&T Bank Corp’s holdings in Axalta Coating Systems were worth $2,046,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in AXTA. Bronfman E.L. Rothschild L.P. boosted its holdings in Axalta Coating Systems by 927.6% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,059 shares of the specialty chemicals company’s stock valued at $117,000 after acquiring an additional 3,664 shares during the period. Advisor Group Inc. boosted its holdings in Axalta Coating Systems by 217.3% during the 2nd quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock valued at $179,000 after acquiring an additional 3,837 shares during the period. LVW Advisors LLC purchased a new position in Axalta Coating Systems during the 3rd quarter valued at about $214,000. Rockefeller Financial Services Inc. purchased a new position in Axalta Coating Systems during the 3rd quarter valued at about $215,000. Finally, Rothschild Investment Corp IL purchased a new position in Axalta Coating Systems during the 4th quarter valued at about $265,000. Institutional investors own 99.32% of the company’s stock.
Shares of Axalta Coating Systems Ltd (AXTA) opened at $30.56 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.11 and a quick ratio of 1.50. The stock has a market capitalization of $7,431.63, a PE ratio of 235.10, a price-to-earnings-growth ratio of 1.65 and a beta of 1.38. Axalta Coating Systems Ltd has a 12-month low of $27.77 and a 12-month high of $38.20.
Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Axalta Coating Systems had a return on equity of 20.93% and a net margin of 0.84%. Axalta Coating Systems’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.16) EPS. equities research analysts expect that Axalta Coating Systems Ltd will post 1.34 earnings per share for the current fiscal year.
In other news, CEO Charles W. Shaver sold 235,810 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $30.58, for a total transaction of $7,211,069.80. Following the sale, the chief executive officer now owns 522,752 shares of the company’s stock, valued at approximately $15,985,756.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven R. Markevich sold 3,125 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $30.58, for a total value of $95,562.50. Following the sale, the executive vice president now directly owns 199,628 shares in the company, valued at approximately $6,104,624.24. The disclosure for this sale can be found here. Insiders sold a total of 473,902 shares of company stock worth $14,498,467 in the last ninety days. 2.30% of the stock is owned by corporate insiders.
AXTA has been the subject of a number of research analyst reports. TheStreet upgraded Axalta Coating Systems from a “c” rating to a “b-” rating in a report on Wednesday, November 15th. Vertical Research upgraded Axalta Coating Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $29.00 to $37.00 in a report on Tuesday, October 31st. Robert W. Baird restated a “buy” rating and set a $35.00 target price on shares of Axalta Coating Systems in a report on Monday, October 30th. Royal Bank of Canada restated a “buy” rating and set a $37.00 target price on shares of Axalta Coating Systems in a report on Monday, October 30th. They noted that the move was a valuation call. Finally, UBS Group lowered their target price on Axalta Coating Systems from $39.00 to $37.00 and set a “buy” rating for the company in a report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $33.50.
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About Axalta Coating Systems
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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