MRJ Capital Inc. decreased its position in shares of Axalta Coating Systems Ltd (NYSE:AXTA) by 20.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 107,000 shares of the specialty chemicals company’s stock after selling 26,700 shares during the quarter. Axalta Coating Systems makes up approximately 1.9% of MRJ Capital Inc.’s portfolio, making the stock its 29th biggest position. MRJ Capital Inc.’s holdings in Axalta Coating Systems were worth $3,462,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its position in Axalta Coating Systems by 927.6% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,059 shares of the specialty chemicals company’s stock valued at $117,000 after purchasing an additional 3,664 shares in the last quarter. American International Group Inc. bought a new stake in Axalta Coating Systems during the fourth quarter valued at about $163,000. LVW Advisors LLC bought a new stake in Axalta Coating Systems during the third quarter valued at about $214,000. Rothschild Investment Corp IL bought a new stake in Axalta Coating Systems during the fourth quarter valued at about $265,000. Finally, Toronto Dominion Bank boosted its position in Axalta Coating Systems by 246.0% during the third quarter. Toronto Dominion Bank now owns 9,203 shares of the specialty chemicals company’s stock valued at $266,000 after purchasing an additional 6,543 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Charles W. Shaver sold 219,719 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.57, for a total value of $6,716,809.83. Following the completion of the transaction, the chief executive officer now directly owns 522,752 shares in the company, valued at $15,980,528.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles W. Shaver sold 235,810 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $30.58, for a total value of $7,211,069.80. Following the completion of the transaction, the chief executive officer now owns 522,752 shares of the company’s stock, valued at $15,985,756.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 473,902 shares of company stock valued at $14,498,467. Company insiders own 2.30% of the company’s stock.
AXTA has been the topic of a number of recent research reports. Credit Suisse Group raised their price objective on Axalta Coating Systems from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Zacks Investment Research downgraded Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. TheStreet downgraded Axalta Coating Systems from a “b-” rating to a “c+” rating in a report on Thursday, December 28th. Robert W. Baird reissued a “buy” rating and issued a $35.00 price target on shares of Axalta Coating Systems in a report on Monday, October 30th. Finally, KeyCorp reissued an “overweight” rating and issued a $40.00 price target (up previously from $36.00) on shares of Axalta Coating Systems in a report on Tuesday, November 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Axalta Coating Systems presently has a consensus rating of “Hold” and a consensus target price of $33.50.
Shares of Axalta Coating Systems Ltd (NYSE AXTA) opened at $31.81 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.11 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $7,758.46, a PE ratio of 244.71, a price-to-earnings-growth ratio of 1.72 and a beta of 1.38. Axalta Coating Systems Ltd has a twelve month low of $27.77 and a twelve month high of $38.20.
Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. Axalta Coating Systems had a return on equity of 20.93% and a net margin of 0.84%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned ($0.16) earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. sell-side analysts forecast that Axalta Coating Systems Ltd will post 1.34 EPS for the current year.
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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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