Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Shell Asset Management Co.

Posted by on Feb 26th, 2023

Shell Asset Management Co. decreased its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA – Get Rating) by 20.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,190 shares of the specialty chemicals company’s stock after selling 3,716 shares during the quarter. Shell Asset Management Co.’s holdings in Axalta Coating Systems were worth $299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXTA. M&T Bank Corp purchased a new position in shares of Axalta Coating Systems during the second quarter worth $192,000. Xponance Inc. purchased a new position in shares of Axalta Coating Systems during the second quarter worth $204,000. Ellevest Inc. boosted its position in shares of Axalta Coating Systems by 37.7% during the third quarter. Ellevest Inc. now owns 10,066 shares of the specialty chemicals company’s stock worth $212,000 after buying an additional 2,758 shares during the period. Prospera Financial Services Inc boosted its position in shares of Axalta Coating Systems by 15.3% during the second quarter. Prospera Financial Services Inc now owns 10,065 shares of the specialty chemicals company’s stock worth $223,000 after buying an additional 1,337 shares during the period. Finally, Fulton Bank N.A. boosted its position in shares of Axalta Coating Systems by 10.5% during the third quarter. Fulton Bank N.A. now owns 10,866 shares of the specialty chemicals company’s stock worth $229,000 after buying an additional 1,032 shares during the period.

Axalta Coating Systems Stock Up 1.0 %

AXTA opened at $29.08 on Friday. The business’s 50-day simple moving average is $27.71 and its 200-day simple moving average is $25.75. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.35 and a current ratio of 1.94. Axalta Coating Systems Ltd. has a one year low of $20.66 and a one year high of $30.80. The stock has a market capitalization of $6.43 billion, a P/E ratio of 33.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.42.

Axalta Coating Systems (NYSE:AXTA – Get Rating) last posted its earnings results on Thursday, January 26th. The specialty chemicals company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Axalta Coating Systems had a return on equity of 23.50% and a net margin of 3.92%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. Analysts anticipate that Axalta Coating Systems Ltd. will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AXTA shares. Barclays raised their price target on Axalta Coating Systems from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, January 30th. Credit Suisse Group lifted their target price on Axalta Coating Systems from $20.00 to $24.00 and gave the company an “underperform” rating in a report on Thursday, January 26th. Mizuho lifted their target price on Axalta Coating Systems from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, January 27th. TheStreet upgraded Axalta Coating Systems from a “c+” rating to a “b-” rating in a report on Monday, January 23rd. Finally, Royal Bank of Canada upgraded Axalta Coating Systems from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $30.00 to $36.00 in a report on Friday, February 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.13.

Axalta Coating Systems Profile

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Axalta Coating Systems Ltd. engages in the manufacture, marketing and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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

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