Fmr LLC Trims Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Fmr LLC reduced its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,978,479 shares of the specialty chemicals company’s stock after selling 263,730 shares during the period. Fmr LLC owned 0.08% of Axalta Coating Systems worth $650,641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. lifted its holdings in shares of Axalta Coating Systems by 3.0% during the 2nd quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock worth $30,623,000 after acquiring an additional 25,717 shares during the period. AQR Capital Management LLC increased its position in Axalta Coating Systems by 126.7% during the second quarter. AQR Capital Management LLC now owns 794,454 shares of the specialty chemicals company’s stock worth $26,817,000 after purchasing an additional 443,946 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Axalta Coating Systems by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock worth $128,852,000 after purchasing an additional 302,752 shares during the period. Savant Capital LLC acquired a new position in shares of Axalta Coating Systems in the 2nd quarter valued at $541,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Axalta Coating Systems by 68.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 36,191 shares of the specialty chemicals company’s stock valued at $1,310,000 after buying an additional 14,704 shares during the period. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on AXTA. Barclays raised their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Robert W. Baird raised their price target 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. Mizuho boosted their price objective on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, KeyCorp upped their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $42.45.

Axalta Coating Systems Stock Performance

Shares of AXTA opened at $40.53 on Friday. Axalta Coating Systems Ltd. has a 52-week low of $30.40 and a 52-week high of $41.65. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 0.89 and a beta of 1.43. The business’s 50 day moving average is $37.68 and its two-hundred day moving average is $35.95.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. Analysts forecast that Axalta Coating Systems Ltd. will post 2.16 EPS for the current fiscal year.

About Axalta Coating Systems

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.