Federated Hermes Inc. Increases Stock Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Posted by Defense World Staff on Aug 20th, 2023

Federated Hermes Inc. boosted its position in Axalta Coating Systems Ltd. (NYSE:AXTA – Free Report) by 2,389.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,007 shares of the specialty chemicals company’s stock after purchasing an additional 31,681 shares during the period. Federated Hermes Inc.’s holdings in Axalta Coating Systems were worth $1,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Belpointe Asset Management LLC purchased a new position in Axalta Coating Systems in the fourth quarter worth about $33,000. Parallel Advisors LLC raised its stake in shares of Axalta Coating Systems by 110.2% in the first quarter. Parallel Advisors LLC now owns 2,075 shares of the specialty chemicals company’s stock worth $63,000 after buying an additional 1,088 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Axalta Coating Systems in the first quarter worth about $97,000. Impax Asset Management Group plc bought a new position in shares of Axalta Coating Systems in the fourth quarter worth about $208,000. Finally, Simplicity Solutions LLC bought a new position in shares of Axalta Coating Systems in the fourth quarter worth about $209,000.

Insider Transactions at Axalta Coating Systems

In other news, SVP Jacqueline Scanlan sold 17,008 shares of Axalta Coating Systems stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $29.48, for a total value of $501,395.84. Following the completion of the transaction, the senior vice president now owns 4,001 shares in the company, valued at approximately $117,949.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Axalta Coating Systems news, CEO Chris Villavarayan acquired 33,710 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average price of $29.67 per share, for a total transaction of $1,000,175.70. Following the acquisition, the chief executive officer now directly owns 68,150 shares in the company, valued at $2,022,010.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jacqueline Scanlan sold 17,008 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $29.48, for a total value of $501,395.84. Following the transaction, the senior vice president now owns 4,001 shares of the company’s stock, valued at approximately $117,949.48. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Axalta Coating Systems Price Performance

Shares of Axalta Coating Systems stock opened at $27.63 on Friday. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 1.71 and a beta of 1.45. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.45 and a current ratio of 2.02. The stock has a 50 day moving average price of $31.41 and a 200-day moving average price of $30.54. Axalta Coating Systems Ltd. has a one year low of $20.66 and a one year high of $33.68.

Axalta Coating Systems (NYSE:AXTA – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The specialty chemicals company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Axalta Coating Systems had a return on equity of 21.28% and a net margin of 4.50%. Axalta Coating Systems’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. Equities analysts expect that Axalta Coating Systems Ltd. will post 1.46 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on AXTA shares. Royal Bank of Canada decreased their price objective on Axalta Coating Systems from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Axalta Coating Systems in a research note on Monday, May 8th. StockNews.com began coverage on Axalta Coating Systems in a research note on Thursday. They set a “hold” rating on the stock. Wells Fargo & Company lifted their target price on Axalta Coating Systems from $32.00 to $33.00 in a research note on Wednesday, July 12th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $32.00 target price on shares of Axalta Coating Systems in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.24.

Check Out Our Latest Report on AXTA

Axalta Coating Systems 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.