Edgestream Partners L.P. Takes $4.91 Million Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Edgestream Partners L.P. bought a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 143,585 shares of the specialty chemicals company’s stock, valued at approximately $4,913,000. Edgestream Partners L.P. owned approximately 0.07% of Axalta Coating Systems at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AXTA. Victory Capital Management Inc. grew its position in shares of Axalta Coating Systems by 9.6% during the fourth quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company’s stock valued at $387,439,000 after purchasing an additional 988,397 shares in the last quarter. PointState Capital LP bought a new position in Axalta Coating Systems during the third quarter valued at approximately $30,257,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Axalta Coating Systems by 151.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 633,017 shares of the specialty chemicals company’s stock valued at $22,909,000 after buying an additional 381,488 shares in the last quarter. Atom Investors LP increased its stake in Axalta Coating Systems by 198.6% in the 3rd quarter. Atom Investors LP now owns 380,616 shares of the specialty chemicals company’s stock worth $13,774,000 after acquiring an additional 253,142 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of Axalta Coating Systems by 55.6% during the 3rd quarter. Verition Fund Management LLC now owns 621,376 shares of the specialty chemicals company’s stock worth $22,488,000 after acquiring an additional 221,943 shares in the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Insider Activity at Axalta Coating Systems

In related news, insider Troy D. Weaver sold 10,457 shares of the company’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 directly owns 74,905 shares of the company’s stock, valued at $2,814,180.85. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wolfe Research raised shares of Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 target price for the company in a report on Friday, January 17th. Barclays lifted 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 note on Wednesday, February 5th. Citigroup cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their target price for the company from $45.00 to $41.00 in a research report on Wednesday, December 18th. KeyCorp reiterated a “sector weight” rating on shares of Axalta Coating Systems in a research report on Tuesday, December 17th. Finally, StockNews.com downgraded Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Axalta Coating Systems has an average rating of “Moderate Buy” and a consensus price target of $43.08.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock opened at $34.97 on Friday. Axalta Coating Systems Ltd. has a 52 week low of $30.41 and a 52 week high of $41.65. The company has a market capitalization of $7.63 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 0.92 and a beta of 1.45. The stock’s fifty day moving average is $35.98 and its two-hundred day moving average is $36.68. The company has a quick ratio of 1.47, a current ratio of 2.01 and a debt-to-equity ratio of 1.74.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. The company had revenue of $1.31 billion during 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 firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. As a group, analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

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.