State Street Corp lessened its position in Axalta Coating Systems Ltd (NYSE:AXTA) by 0.6% in the 3rd quarter, Holdings Channel reports. The fund owned 4,630,887 shares of the specialty chemicals company’s stock after selling 26,413 shares during the period. State Street Corp’s holdings in Axalta Coating Systems were worth $139,621,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of AXTA. Parallel Advisors LLC boosted its position in Axalta Coating Systems by 639.8% during the 2nd quarter. Parallel Advisors LLC now owns 910 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 787 shares during the period. NEXT Financial Group Inc increased its holdings in shares of Axalta Coating Systems by 633.3% in 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. acquired a new position in shares of Axalta Coating Systems in the 2nd quarter valued at about $58,000. Commonwealth Bank of Australia increased its holdings in shares of 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 purchasing an additional 583 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Axalta Coating Systems in the second quarter worth approximately $116,000. Institutional investors and hedge funds own 95.58% of the company’s stock.
AXTA opened at $30.34 on Friday. The company has a market capitalization of $7.02 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43. The company has a debt-to-equity ratio of 2.82, a current ratio of 2.35 and a quick ratio of 1.77. Axalta Coating Systems Ltd has a fifty-two week low of $21.58 and a fifty-two week high of $32.20. The business has a 50-day moving average of $29.20 and a 200-day moving average of $28.74.
AXTA has been the subject of several research reports. JPMorgan Chase & Co. upgraded shares of Axalta Coating Systems from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $31.00 to $33.00 in a report on Friday, October 25th. Wells Fargo & Co began 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 downgraded shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Bank of America downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research report on Friday, August 16th. Finally, Zacks Investment Research raised shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.82.
Axalta Coating Systems Company Profile
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.
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