MetLife Investment Management LLC Sells 2,817 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

MetLife Investment Management LLC cut its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,364 shares of the specialty chemicals company’s stock after selling 2,817 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Axalta Coating Systems worth $4,103,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Axalta Coating Systems by 0.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock valued at $512,890,000 after purchasing an additional 137,209 shares during the period. Victory Capital Management Inc. raised its position in Axalta Coating Systems by 5.6% during the 2nd quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock valued at $355,479,000 after purchasing an additional 550,970 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Axalta Coating Systems by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock worth $128,852,000 after buying an additional 302,752 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Axalta Coating Systems by 19.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,914,764 shares of the specialty chemicals company’s stock worth $99,597,000 after buying an additional 475,493 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Axalta Coating Systems by 89.7% in the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock valued at $93,411,000 after acquiring an additional 1,292,434 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AXTA has been the subject of several research reports. Evercore ISI started coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price target for the company. KeyCorp lifted their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Barclays lifted their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Mizuho increased their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Axalta Coating Systems presently has a consensus rating of “Buy” and a consensus target price of $42.45.

Axalta Coating Systems Stock Up 0.3 %

AXTA opened at $40.57 on Tuesday. The company has a fifty day moving average of $37.85 and a two-hundred day moving average of $36.01. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 0.87 and a beta of 1.43. Axalta Coating Systems Ltd. has a fifty-two week low of $30.40 and a fifty-two week high of $41.65. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, research analysts expect that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current year.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through two segments, Performance Coatings and Mobility Coatings.