Stifel Financial Corp increased its position in Axalta Coating Systems Ltd (NYSE:AXTA) by 23.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,824 shares of the specialty chemicals company’s stock after acquiring an additional 52,861 shares during the quarter. Stifel Financial Corp owned about 0.12% of Axalta Coating Systems worth $8,283,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in AXTA. Parallel Advisors LLC grew its position in shares of Axalta Coating Systems by 639.8% in the second quarter. Parallel Advisors LLC now owns 910 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 787 shares during the last quarter. NEXT Financial Group Inc boosted its stake in Axalta Coating Systems by 633.3% during the 2nd quarter. NEXT Financial Group Inc now owns 1,100 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 950 shares during the period. SRS Capital Advisors Inc. bought a new stake in Axalta Coating Systems during the 2nd quarter valued at approximately $58,000. Commonwealth Bank of Australia grew its holdings in Axalta Coating Systems by 24.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,928 shares of the specialty chemicals company’s stock valued at $86,000 after buying an additional 583 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Axalta Coating Systems in the 2nd quarter valued at approximately $116,000. 95.58% of the stock is owned by hedge funds and other institutional investors.
AXTA has been the subject of a number of research analyst reports. Bank of America lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating in a report on Friday, August 16th. Wells Fargo & Co started coverage on shares of Axalta Coating Systems in a research note on Tuesday, October 15th. They issued a “market perform” rating and a $31.00 price objective on the stock. ValuEngine lowered shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. raised shares of Axalta Coating Systems from a “neutral” rating to an “overweight” rating and increased their price target for the company from $31.00 to $33.00 in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.82.
Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Thursday, October 24th. The specialty chemicals company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Axalta Coating Systems had a return on equity of 31.05% and a net margin of 6.21%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company posted $0.40 earnings per share. Axalta Coating Systems’s revenue was down 3.4% on a year-over-year basis. Equities analysts forecast that Axalta Coating Systems Ltd will post 1.82 earnings per share for the current fiscal year.
About Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
Featured Article: What is a good rate of return for a mutual fund?
Want to see what other hedge funds are holding AXTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axalta Coating Systems Ltd (NYSE:AXTA).
Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.