National Bank of Canada FI Has $28.19 Million Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Posted by Defense World Staff on Apr 3rd, 2023

National Bank of Canada FI increased its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA – Get Rating) by 94.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,106,598 shares of the specialty chemicals company’s stock after buying an additional 538,526 shares during the period. National Bank of Canada FI owned 0.50% of Axalta Coating Systems worth $28,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AXTA. Boston Partners lifted its position in Axalta Coating Systems by 12.5% during the 3rd quarter. Boston Partners now owns 17,088,246 shares of the specialty chemicals company’s stock valued at $360,949,000 after purchasing an additional 1,895,015 shares during the period. Ariel Investments LLC lifted its position in Axalta Coating Systems by 23.8% during the 1st quarter. Ariel Investments LLC now owns 7,398,739 shares of the specialty chemicals company’s stock valued at $181,861,000 after purchasing an additional 1,420,653 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Axalta Coating Systems by 776.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,538,200 shares of the specialty chemicals company’s stock valued at $34,010,000 after purchasing an additional 1,362,617 shares during the period. Shapiro Capital Management LLC lifted its position in Axalta Coating Systems by 12.8% during the 1st quarter. Shapiro Capital Management LLC now owns 9,477,301 shares of the specialty chemicals company’s stock valued at $232,952,000 after purchasing an additional 1,074,872 shares during the period. Finally, Wellington Management Group LLP lifted its position in Axalta Coating Systems by 20.7% during the 1st quarter. Wellington Management Group LLP now owns 5,001,458 shares of the specialty chemicals company’s stock valued at $122,936,000 after purchasing an additional 857,732 shares during the period.

Insiders Place Their Bets

In other news, Director William M. Cook acquired 2,500 shares of the stock in a transaction on Tuesday, March 14th. The shares were purchased at an average price of $29.55 per share, for a total transaction of $73,875.00. Following the transaction, the director now directly owns 4,500 shares of the company’s stock, valued at $132,975. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Chris Villavarayan purchased 34,440 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $29.20 per share, for a total transaction of $1,005,648.00. Following the completion of the transaction, the chief executive officer now owns 34,440 shares of the company’s stock, valued at $1,005,648. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William M. Cook bought 2,500 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was acquired at an average price of $29.55 per share, for a total transaction of $73,875.00. Following the transaction, the director now owns 4,500 shares of the company’s stock, valued at $132,975. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AXTA shares. UBS Group upped their price target on Axalta Coating Systems from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 11th. StockNews.com cut Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, March 14th. Mizuho upped their price target on Axalta Coating Systems from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, January 27th. Wells Fargo & Company upped their price target on Axalta Coating Systems from $23.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. Finally, TheStreet raised Axalta Coating Systems from a “c+” rating to a “b-” rating in a research note on Monday, January 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.45.

Axalta Coating Systems Trading Up 2.8 %

NYSE AXTA opened at $30.29 on Monday. The company has a market cap of $6.70 billion, a PE ratio of 35.22, a PEG ratio of 2.09 and a beta of 1.43. The company has a current ratio of 1.94, a quick ratio of 1.35 and a debt-to-equity ratio of 2.45. Axalta Coating Systems Ltd. has a 12 month low of $20.66 and a 12 month high of $32.56. The stock has a 50 day moving average of $29.27 and a 200-day moving average of $26.39.

Axalta Coating Systems (NYSE:AXTA – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The specialty chemicals company reported $0.38 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Axalta Coating Systems Ltd. will post 1.43 EPS for the current fiscal year.

Axalta Coating Systems Profile

(Get Rating)

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