Victory Capital Management Inc. Purchases 550,970 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Victory Capital Management Inc. lifted its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,403,246 shares of the specialty chemicals company’s stock after acquiring an additional 550,970 shares during the quarter. Victory Capital Management Inc. owned approximately 4.71% of Axalta Coating Systems worth $355,479,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Truist Financial Corp boosted its stake in shares of Axalta Coating Systems by 8.1% in the 4th quarter. Truist Financial Corp now owns 44,919 shares of the specialty chemicals company’s stock worth $1,526,000 after buying an additional 3,374 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new position in shares of Axalta Coating Systems in the 4th quarter worth approximately $243,000. M&T Bank Corp boosted its stake in shares of Axalta Coating Systems by 6.5% in the 4th quarter. M&T Bank Corp now owns 9,161 shares of the specialty chemicals company’s stock worth $311,000 after buying an additional 556 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Axalta Coating Systems by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,407,733 shares of the specialty chemicals company’s stock worth $47,821,000 after buying an additional 28,809 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Axalta Coating Systems in the 4th quarter worth approximately $569,000. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Stock Down 1.1 %

AXTA opened at $34.99 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.26 and a debt-to-equity ratio of 1.97. Axalta Coating Systems Ltd. has a 52 week low of $25.03 and a 52 week high of $37.49. The stock has a market cap of $7.72 billion, a PE ratio of 31.52, a P/E/G ratio of 0.86 and a beta of 1.44. The business’s fifty day simple moving average is $34.88 and its 200 day simple moving average is $34.18.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. As a group, research analysts expect that Axalta Coating Systems Ltd. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AXTA shares. Robert W. Baird boosted their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. KeyCorp boosted their target price on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Mizuho boosted their target price on shares of Axalta Coating Systems from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Wells Fargo & Company raised shares of Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 11th. Finally, Royal Bank of Canada upped their price target on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Axalta Coating Systems Company Profile

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. The company operates through two segments, Performance Coatings and Mobility Coatings.