PDT Partners LLC Reduces Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

PDT Partners LLC trimmed its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,554 shares of the specialty chemicals company’s stock after selling 12,514 shares during the quarter. PDT Partners LLC’s holdings in Axalta Coating Systems were worth $2,483,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXTA. Victory Capital Management Inc. grew its position in Axalta Coating Systems by 9.6% during the 4th quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company’s stock worth $387,439,000 after purchasing an additional 988,397 shares during the period. JPMorgan Chase & Co. grew its holdings in Axalta Coating Systems by 0.4% during the fourth quarter. JPMorgan Chase & Co. now owns 11,280,882 shares of the specialty chemicals company’s stock worth $386,032,000 after acquiring an additional 50,520 shares during the period. Wellington Management Group LLP raised its position in Axalta Coating Systems by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 6,598,172 shares of the specialty chemicals company’s stock valued at $225,789,000 after acquiring an additional 82,200 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Axalta Coating Systems by 54.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,587,090 shares of the specialty chemicals company’s stock valued at $191,190,000 after acquiring an additional 1,980,296 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Axalta Coating Systems by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,874,038 shares of the specialty chemicals company’s stock worth $132,568,000 after purchasing an additional 93,298 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AXTA. Wells Fargo & Company decreased their target price on shares of Axalta Coating Systems from $42.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Barclays upped their price objective on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. BNP Paribas upgraded Axalta Coating Systems from a “neutral” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Thursday, April 10th. StockNews.com lowered Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Mizuho set a $37.00 price target on Axalta Coating Systems in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Axalta Coating Systems has a consensus rating of “Moderate Buy” and an average price target of $41.36.

Axalta Coating Systems Stock Performance

NYSE:AXTA opened at $31.82 on Wednesday. The company has a market cap of $6.95 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.92 and a beta of 1.33. Axalta Coating Systems Ltd. has a twelve month low of $27.70 and a twelve month high of $41.66. The company’s 50-day moving average price is $33.07 and its 200-day moving average price is $35.77. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74.

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

Insiders Place Their Bets

In other Axalta Coating Systems news, insider Troy D. Weaver sold 10,457 shares of the business’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 transaction, the insider now directly owns 74,905 shares in the company, valued at $2,814,180.85. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

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.