Northern Trust Corp Has $38.48 Million Position in Axalta Coating Systems Ltd (AXTA)

Northern Trust Corp cut its holdings in Axalta Coating Systems Ltd (NYSE:AXTA) by 7.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,269,674 shares of the specialty chemicals company’s stock after selling 99,755 shares during the quarter. Northern Trust Corp owned 0.53% of Axalta Coating Systems worth $38,484,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Axalta Coating Systems by 18.3% during the 1st quarter. JPMorgan Chase & Co. now owns 372,507 shares of the specialty chemicals company’s stock valued at $11,247,000 after buying an additional 57,626 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Axalta Coating Systems by 24.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,190,574 shares of the specialty chemicals company’s stock valued at $35,943,000 after buying an additional 233,505 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Axalta Coating Systems by 112.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 19,444 shares of the specialty chemicals company’s stock valued at $587,000 after buying an additional 10,311 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in Axalta Coating Systems during the 1st quarter valued at $1,504,000. Finally, Jane Street Group LLC raised its stake in Axalta Coating Systems by 28.6% during the 1st quarter. Jane Street Group LLC now owns 9,902 shares of the specialty chemicals company’s stock valued at $299,000 after buying an additional 2,202 shares during the last quarter.

A number of equities research analysts have weighed in on AXTA shares. KeyCorp decreased their target price on shares of Axalta Coating Systems from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Barclays reiterated a “hold” rating and set a $32.00 target price on shares of Axalta Coating Systems in a research note on Tuesday, July 31st. Zacks Investment Research lowered shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research note on Monday, October 1st. JPMorgan Chase & Co. upgraded shares of Axalta Coating Systems from a “neutral” rating to an “overweight” rating and set a $33.00 target price for the company in a research note on Friday, July 27th. Finally, Nomura decreased their target price on shares of Axalta Coating Systems from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $33.33.

NYSE:AXTA opened at $25.60 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 2.73. The firm has a market capitalization of $6.20 billion, a PE ratio of 20.44, a P/E/G ratio of 1.40 and a beta of 1.26. Axalta Coating Systems Ltd has a one year low of $25.27 and a one year high of $38.20.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, July 25th. The specialty chemicals company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. Axalta Coating Systems had a return on equity of 21.32% and a net margin of 2.97%. Axalta Coating Systems’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. Sell-side analysts expect that Axalta Coating Systems Ltd will post 1.27 EPS for the current fiscal year.

In related news, Director Robert M. Mclaughlin sold 4,920 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $30.33, for a total value of $149,223.60. Following the completion of the transaction, the director now owns 39,442 shares of the company’s stock, valued at approximately $1,196,275.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles W. Shaver sold 250,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $29.73, for a total transaction of $7,432,500.00. Following the completion of the transaction, the director now directly owns 690,828 shares of the company’s stock, valued at approximately $20,538,316.44. The disclosure for this sale can be found here. Insiders sold a total of 345,391 shares of company stock valued at $10,268,682 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Axalta Coating Systems Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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