Point72 Hong Kong Ltd Has $294,000 Stake in Axalta Coating Systems Ltd (AXTA)

Point72 Hong Kong Ltd grew its stake in shares of Axalta Coating Systems Ltd (NYSE:AXTA) by 287.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,072 shares of the specialty chemicals company’s stock after acquiring an additional 7,473 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Axalta Coating Systems were worth $294,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Aperio Group LLC increased its holdings in Axalta Coating Systems by 11.2% in the 2nd quarter. Aperio Group LLC now owns 42,969 shares of the specialty chemicals company’s stock worth $1,302,000 after buying an additional 4,331 shares in the last quarter. First Trust Advisors LP increased its holdings in Axalta Coating Systems by 3.0% in the 2nd quarter. First Trust Advisors LP now owns 62,701 shares of the specialty chemicals company’s stock worth $1,900,000 after buying an additional 1,834 shares in the last quarter. Sei Investments Co. increased its holdings in Axalta Coating Systems by 142.3% in the 2nd quarter. Sei Investments Co. now owns 208,025 shares of the specialty chemicals company’s stock worth $6,305,000 after buying an additional 122,160 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Axalta Coating Systems by 6.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,681 shares of the specialty chemicals company’s stock worth $1,718,000 after buying an additional 3,500 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in Axalta Coating Systems by 45.8% in the 2nd quarter. Toronto Dominion Bank now owns 21,879 shares of the specialty chemicals company’s stock worth $663,000 after buying an additional 6,870 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Several research firms recently commented on AXTA. Credit Suisse Group set a $34.00 price objective on Axalta Coating Systems and gave the stock a “buy” rating in a report on Thursday. ValuEngine downgraded Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Zacks Investment Research upgraded Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Seaport Global Securities upgraded Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Monday, October 29th. Finally, BMO Capital Markets reduced their price objective on Axalta Coating Systems from $34.00 to $28.00 and set a “hold” rating for the company in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $31.30.

In other Axalta Coating Systems news, EVP Steven R. Markevich sold 16,197 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $29.17, for a total transaction of $472,466.49. Following the completion of the sale, the executive vice president now directly owns 161,697 shares in the company, valued at approximately $4,716,701.49. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Axalta Coating Systems stock opened at $22.23 on Friday. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 1.21 and a beta of 1.37. Axalta Coating Systems Ltd has a 52-week low of $22.08 and a 52-week high of $33.30. The company has a quick ratio of 1.63, a current ratio of 2.23 and a debt-to-equity ratio of 2.86.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Thursday, October 25th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. Axalta Coating Systems had a return on equity of 22.53% and a net margin of 1.49%. On average, sell-side analysts expect that Axalta Coating Systems Ltd will post 1.27 earnings per share for the current fiscal year.

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Axalta Coating Systems Profile

Axalta Coating Systems Ltd. manufactures, markets, and distributes coatings systems. It operates through the following segments: Performance Coatings and Transportation Coatings. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. The Transportation Coatings segment offers advanced coatings technologies to original equipment manufacturers of light and commercial vehicles.

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

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