Axalta Coating Systems Ltd (AXTA) Position Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Axalta Coating Systems Ltd (NYSE:AXTA) by 11.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 349,195 shares of the specialty chemicals company’s stock after selling 44,366 shares during the period. JPMorgan Chase & Co. owned 0.14% of Axalta Coating Systems worth $10,102,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Financial Counselors Inc. increased its stake in Axalta Coating Systems by 3.3% in the 2nd quarter. Financial Counselors Inc. now owns 7,145 shares of the specialty chemicals company’s stock worth $229,000 after buying an additional 225 shares during the period. Commonwealth Bank of Australia increased its position in Axalta Coating Systems by 18.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock valued at $146,000 after purchasing an additional 703 shares during the period. The Manufacturers Life Insurance Company increased its position in Axalta Coating Systems by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,070 shares of the specialty chemicals company’s stock valued at $291,000 after purchasing an additional 1,141 shares during the period. Prudential Financial Inc. increased its position in Axalta Coating Systems by 24.6% during the 2nd quarter. Prudential Financial Inc. now owns 8,110 shares of the specialty chemicals company’s stock valued at $260,000 after purchasing an additional 1,600 shares during the period. Finally, Norman Fields Gottscho Capital Management LLC increased its position in Axalta Coating Systems by 0.7% during the 3rd quarter. Norman Fields Gottscho Capital Management LLC now owns 244,320 shares of the specialty chemicals company’s stock valued at $7,066,000 after purchasing an additional 1,735 shares during the period. 99.22% of the stock is currently owned by institutional investors.

AXTA has been the topic of a number of research reports. TheStreet raised shares of Axalta Coating Systems from a “c” rating to a “b-” rating in a research report on Wednesday, November 15th. Vertical Research raised shares of Axalta Coating Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $29.00 to $37.00 in a research report on Tuesday, October 31st. Robert W. Baird reissued a “buy” rating and set a $35.00 target price on shares of Axalta Coating Systems in a research report on Monday, October 30th. KeyCorp reissued a “buy” rating and set a $36.00 target price on shares of Axalta Coating Systems in a research report on Thursday, October 12th. Finally, Nomura raised shares of Axalta Coating Systems to a “buy” rating and cut their target price for the company from $30.00 to $28.00 in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $33.73.

Axalta Coating Systems Ltd (NYSE AXTA) opened at $31.99 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.11 and a quick ratio of 1.50. Axalta Coating Systems Ltd has a 12-month low of $26.82 and a 12-month high of $38.20. The stock has a market cap of $7,790.00, a P/E ratio of 110.31, a PEG ratio of 1.98 and a beta of 1.55.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Axalta Coating Systems had a net margin of 1.46% and a return on equity of 19.91%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned $0.33 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. research analysts forecast that Axalta Coating Systems Ltd will post 1.15 earnings per share for the current year.

In related news, EVP Steven R. Markevich sold 900 shares of Axalta Coating Systems stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $29.42, for a total value of $26,478.00. Following the completion of the sale, the executive vice president now directly owns 201,393 shares in the company, valued at approximately $5,924,982.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael F. Finn sold 3,950 shares of Axalta Coating Systems stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $32.66, for a total transaction of $129,007.00. Following the completion of the sale, the senior vice president now owns 108,818 shares of the company’s stock, valued at $3,553,995.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,724 shares of company stock worth $1,201,705. Insiders own 2.30% of the company’s stock.

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Axalta Coating Systems Profile

Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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