Axalta Coating Systems Ltd (AXTA) Position Trimmed by NN Investment Partners Holdings N.V.

NN Investment Partners Holdings N.V. lowered its stake in Axalta Coating Systems Ltd (NYSE:AXTA) by 14.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 74,998 shares of the specialty chemicals company’s stock after selling 13,013 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Axalta Coating Systems were worth $2,187,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Axalta Coating Systems by 5.0% in the second quarter. BlackRock Inc. now owns 11,018,312 shares of the specialty chemicals company’s stock valued at $333,966,000 after acquiring an additional 527,527 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Axalta Coating Systems by 40.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,860,207 shares of the specialty chemicals company’s stock valued at $141,724,000 after buying an additional 1,390,710 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Axalta Coating Systems by 0.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,092,929 shares of the specialty chemicals company’s stock valued at $124,057,000 after buying an additional 23,544 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Axalta Coating Systems by 30.1% during the 2nd quarter. Millennium Management LLC now owns 3,736,910 shares of the specialty chemicals company’s stock valued at $113,266,000 after buying an additional 863,979 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Axalta Coating Systems by 8.1% during the 2nd quarter. FMR LLC now owns 3,723,288 shares of the specialty chemicals company’s stock valued at $112,853,000 after buying an additional 279,374 shares in the last quarter.

AXTA opened at $25.40 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 2.23 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $6.03 billion, a PE ratio of 21.34, a P/E/G ratio of 1.38 and a beta of 1.37. Axalta Coating Systems Ltd has a 1 year low of $23.65 and a 1 year high of $38.20.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Thursday, October 25th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. Axalta Coating Systems had a return on equity of 22.53% and a net margin of 1.49%. Sell-side analysts forecast that Axalta Coating Systems Ltd will post 1.26 earnings per share for the current fiscal year.

A number of brokerages have recently commented on AXTA. KeyCorp dropped their target price on shares of Axalta Coating Systems from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. Barclays restated a “hold” rating and set a $32.00 target price on shares of Axalta Coating Systems in a report on Tuesday, July 31st. Nomura dropped their target price on shares of Axalta Coating Systems from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, July 11th. Zacks Investment Research cut shares of Axalta Coating Systems from a “hold” rating to a “strong sell” rating in a report on Thursday, October 11th. Finally, Seaport Global Securities upgraded shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Monday, October 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Axalta Coating Systems has a consensus rating of “Hold” and a consensus target price of $31.36.

In other news, EVP Steven R. Markevich sold 16,197 shares of Axalta Coating Systems stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $29.17, for a total value of $472,466.49. Following the completion of the transaction, the executive vice president now owns 161,697 shares of the company’s stock, valued at approximately $4,716,701.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles W. Shaver sold 250,000 shares of Axalta Coating Systems stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $29.73, for a total value 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. In the last ninety days, insiders sold 345,391 shares of company stock valued at $10,268,682. 2.10% of the stock is owned by insiders.

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Axalta Coating Systems Profile

Axalta Coating Systems Ltd. manufactures, markets, and distributes coatings systems. It operates through the following segments: Performance Coatings and Transportation Coatings. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. The Transportation Coatings segment offers advanced coatings technologies to original equipment manufacturers of light and commercial vehicles.

Further Reading: Should I invest in “strong buy” stocks?

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

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