55,700 Shares in Axalta Coating Systems Ltd. (NYSE:AXTA) Bought by State of Michigan Retirement System

Posted by Defense World Staff on Jul 23rd, 2023

State of Michigan Retirement System bought a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 55,700 shares of the specialty chemicals company’s stock, valued at approximately $1,687,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Belpointe Asset Management LLC acquired a new position in Axalta Coating Systems during the 4th quarter worth $33,000. Parallel Advisors LLC boosted its position in shares of Axalta Coating Systems by 110.2% during the 1st quarter. Parallel Advisors LLC now owns 2,075 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 1,088 shares in the last quarter. Signaturefd LLC boosted its position in shares of Axalta Coating Systems by 16.9% during the 4th quarter. Signaturefd LLC now owns 3,050 shares of the specialty chemicals company’s stock worth $78,000 after acquiring an additional 442 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Axalta Coating Systems during the 4th quarter worth about $105,000. Finally, Impax Asset Management Group plc acquired a new position in shares of Axalta Coating Systems during the 4th quarter worth about $208,000.

Axalta Coating Systems Stock Up 1.6 %

AXTA opened at $32.63 on Friday. The business has a 50 day moving average price of $31.66 and a two-hundred day moving average price of $30.21. The company has a quick ratio of 1.43, a current ratio of 2.05 and a debt-to-equity ratio of 2.23. The company has a market cap of $7.23 billion, a PE ratio of 34.35, a P/E/G ratio of 1.28 and a beta of 1.45. Axalta Coating Systems Ltd. has a 52 week low of $20.66 and a 52 week high of $33.68.

Axalta Coating Systems (NYSE:AXTA – Get Free Report) last posted its quarterly earnings data on Tuesday, May 2nd. The specialty chemicals company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. Axalta Coating Systems had a return on equity of 23.36% and a net margin of 4.22%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business earned $0.31 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that Axalta Coating Systems Ltd. will post 1.56 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on AXTA shares. Seaport Res Ptn reaffirmed a “buy” rating on shares of Axalta Coating Systems in a research report on Monday, May 8th. Wells Fargo & Company upped their price objective on Axalta Coating Systems from $32.00 to $33.00 in a research report on Wednesday, July 12th. Barclays upped their price objective on Axalta Coating Systems from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, April 3rd. Mizuho boosted their target price on Axalta Coating Systems from $34.00 to $37.00 and gave the company a “buy” rating in a report on Thursday. Finally, StockNews.com began coverage on Axalta Coating Systems in a report on Thursday, May 18th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.76.

Axalta Coating Systems Company Profile

(Free Report)

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. It operates through two segments, Performance Coatings and Mobility Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.