Citigroup Inc. Sells 17,072 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Citigroup Inc. decreased its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,560 shares of the specialty chemicals company’s stock after selling 17,072 shares during the period. Citigroup Inc. owned approximately 0.08% of Axalta Coating Systems worth $5,627,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its stake in Axalta Coating Systems by 7.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 4,523 shares of the specialty chemicals company’s stock worth $133,000 after purchasing an additional 321 shares in the last quarter. Arizona State Retirement System boosted its stake in Axalta Coating Systems by 0.6% in the 1st quarter. Arizona State Retirement System now owns 61,104 shares of the specialty chemicals company’s stock worth $1,807,000 after purchasing an additional 363 shares in the last quarter. WINTON GROUP Ltd lifted its stake in Axalta Coating Systems by 3.1% during the 2nd quarter. WINTON GROUP Ltd now owns 13,460 shares of the specialty chemicals company’s stock valued at $410,000 after acquiring an additional 411 shares during the period. Banque Cantonale Vaudoise lifted its stake in Axalta Coating Systems by 4.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 10,325 shares of the specialty chemicals company’s stock valued at $306,000 after acquiring an additional 425 shares during the period. Finally, Comerica Bank lifted its stake in Axalta Coating Systems by 6.0% during the 1st quarter. Comerica Bank now owns 8,715 shares of the specialty chemicals company’s stock valued at $283,000 after acquiring an additional 490 shares during the period. Institutional investors own 95.62% of the company’s stock.

In other news, SVP Barry S. Snyder sold 865 shares of the firm’s stock in a transaction on Friday, July 30th. The stock was sold at an average price of $30.14, for a total transaction of $26,071.10. Following the transaction, the senior vice president now owns 48,880 shares in the company, valued at $1,473,243.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

NYSE:AXTA opened at $29.80 on Friday. Axalta Coating Systems Ltd. has a twelve month low of $21.45 and a twelve month high of $34.20. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 0.61 and a beta of 1.45. The stock has a fifty day simple moving average of $29.89 and a 200-day simple moving average of $30.65. The company has a current ratio of 2.51, a quick ratio of 2.00 and a debt-to-equity ratio of 2.48.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Sunday, July 25th. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Axalta Coating Systems had a return on equity of 34.83% and a net margin of 6.85%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.08 billion. As a group, equities research analysts predict that Axalta Coating Systems Ltd. will post 1.9 EPS for the current fiscal year.

Several brokerages have recently weighed in on AXTA. Royal Bank of Canada lowered their price objective on shares of Axalta Coating Systems from $38.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Axalta Coating Systems from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, July 28th. Zacks Investment Research cut shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 15th. Finally, Citigroup lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $39.00 to $32.00 in a report on Thursday, September 9th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Axalta Coating Systems has a consensus rating of “Buy” and a consensus price target of $35.90.

Axalta Coating Systems Profile

Axalta Coating Systems Ltd. engages in the manufacture, marketing, and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

Read More: What is Cost of Goods Sold (COGS)?

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

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