Quarry LP Grows Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Quarry LP raised its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 397.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,676 shares of the specialty chemicals company’s stock after acquiring an additional 3,736 shares during the period. Quarry LP’s holdings in Axalta Coating Systems were worth $160,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Barclays PLC lifted its holdings in shares of Axalta Coating Systems by 50.4% during the third quarter. Barclays PLC now owns 154,483 shares of the specialty chemicals company’s stock valued at $5,589,000 after purchasing an additional 51,748 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Axalta Coating Systems during the third quarter valued at $117,000. Tidal Investments LLC lifted its holdings in shares of Axalta Coating Systems by 12.9% during the third quarter. Tidal Investments LLC now owns 52,330 shares of the specialty chemicals company’s stock valued at $1,894,000 after purchasing an additional 5,988 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Axalta Coating Systems by 62.7% during the third quarter. Franklin Resources Inc. now owns 138,081 shares of the specialty chemicals company’s stock valued at $5,097,000 after purchasing an additional 53,222 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Axalta Coating Systems by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 445,836 shares of the specialty chemicals company’s stock valued at $16,135,000 after purchasing an additional 24,402 shares in the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axalta Coating Systems

In other news, insider Troy D. Weaver sold 10,457 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $37.57, for a total value of $392,869.49. Following the completion of the sale, the insider now owns 74,905 shares in the company, valued at approximately $2,814,180.85. This trade represents a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Mizuho set a $37.00 target price on Axalta Coating Systems in a report on Tuesday, April 15th. Citigroup lowered their target price on Axalta Coating Systems from $42.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Wolfe Research raised Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Friday, January 17th. StockNews.com downgraded Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, BNP Paribas raised Axalta Coating Systems from a “neutral” rating to an “outperform” rating and set a $38.00 target price on the stock in a report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.36.

Axalta Coating Systems Price Performance

Shares of NYSE:AXTA opened at $31.77 on Tuesday. Axalta Coating Systems Ltd. has a fifty-two week low of $27.70 and a fifty-two week high of $41.66. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01. The firm has a fifty day moving average price of $33.18 and a 200 day moving average price of $35.79. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 0.92 and a beta of 1.33.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.51 by $0.09. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business earned $0.43 earnings per share. Axalta Coating Systems’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Axalta Coating Systems 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.