Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Acquired by Envestnet Asset Management Inc.

Posted by Defense World Staff on Sep 4th, 2023

Envestnet Asset Management Inc. increased its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA – Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 446,730 shares of the specialty chemicals company’s stock after purchasing an additional 29,066 shares during the period. Envestnet Asset Management Inc. owned 0.20% of Axalta Coating Systems worth $13,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AXTA. Rhumbline Advisers increased its holdings in shares of Axalta Coating Systems by 168.1% in the first quarter. Rhumbline Advisers now owns 647,289 shares of the specialty chemicals company’s stock valued at $19,606,000 after purchasing an additional 405,897 shares during the period. Citigroup Inc. increased its stake in shares of Axalta Coating Systems by 66.0% during the first quarter. Citigroup Inc. now owns 195,812 shares of the specialty chemicals company’s stock worth $5,931,000 after acquiring an additional 77,869 shares during the period. Intech Investment Management LLC purchased a new position in Axalta Coating Systems during the first quarter worth about $668,000. Ameritas Investment Partners Inc. acquired a new stake in Axalta Coating Systems in the first quarter valued at about $1,701,000. Finally, Weiss Asset Management LP purchased a new stake in Axalta Coating Systems in the 1st quarter valued at approximately $10,299,000. 98.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Axalta Coating Systems Trading Up 0.0 %

Shares of Axalta Coating Systems stock opened at $28.31 on Monday. Axalta Coating Systems Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $33.68. The business’s fifty day moving average is $30.58 and its two-hundred day moving average is $30.42. The company has a quick ratio of 1.45, a current ratio of 2.02 and a debt-to-equity ratio of 2.09. The firm has a market cap of $6.28 billion, a PE ratio of 27.75, a P/E/G ratio of 1.73 and a beta of 1.46.

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

Analyst Ratings Changes

AXTA has been the subject of several recent analyst reports. Citigroup started coverage on Axalta Coating Systems in a report on Tuesday, June 13th. They issued a “buy” rating and a $37.00 price target for the company. Mizuho decreased their target price on shares of Axalta Coating Systems from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. KeyCorp upped their price target on shares of Axalta Coating Systems from $36.00 to $38.00 in a research note on Tuesday, July 11th. Seaport Res Ptn reissued a “buy” rating on shares of Axalta Coating Systems in a report on Monday, May 8th. Finally, Wells Fargo & Company upped their target price on shares of Axalta Coating Systems from $32.00 to $33.00 in a research report on Wednesday, July 12th. One 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’s stock. Based on data from MarketBeat.com, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.24.

Get Our Latest Analysis on AXTA

About Axalta Coating Systems

(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.

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

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