BlueMountain Capital Management LLC Acquires New Holdings in Axalta Coating Systems Ltd (AXTA)

BlueMountain Capital Management LLC acquired a new stake in shares of Axalta Coating Systems Ltd (NYSE:AXTA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 108,964 shares of the specialty chemicals company’s stock, valued at approximately $3,177,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AXTA. Cove Street Capital LLC boosted its holdings in shares of Axalta Coating Systems by 19.1% in the second quarter. Cove Street Capital LLC now owns 359,429 shares of the specialty chemicals company’s stock worth $10,894,000 after acquiring an additional 57,726 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Axalta Coating Systems by 29.6% in the second quarter. California Public Employees Retirement System now owns 496,254 shares of the specialty chemicals company’s stock worth $15,041,000 after acquiring an additional 113,301 shares during the period. Korea Investment CORP bought a new position in shares of Axalta Coating Systems in the second quarter worth $1,355,000. CWM LLC boosted its holdings in shares of Axalta Coating Systems by 21.8% in the third quarter. CWM LLC now owns 239,477 shares of the specialty chemicals company’s stock worth $6,983,000 after acquiring an additional 42,822 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Axalta Coating Systems by 8.5% in the third quarter. Wells Fargo & Company MN now owns 1,939,994 shares of the specialty chemicals company’s stock worth $56,570,000 after acquiring an additional 151,808 shares during the period. 99.82% of the stock is owned by institutional investors and hedge funds.

Shares of AXTA stock opened at $21.78 on Tuesday. The company has a current ratio of 2.23, a quick ratio of 1.63 and a debt-to-equity ratio of 2.86. Axalta Coating Systems Ltd has a 52-week low of $21.68 and a 52-week high of $33.30. The firm has a market capitalization of $5.31 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37.

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

In related news, EVP Steven R. Markevich sold 16,197 shares of the stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $29.17, for a total value of $472,466.49. Following the sale, the executive vice president now owns 161,697 shares in the company, valued at $4,716,701.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.10% of the company’s stock.

A number of equities analysts have recently commented on AXTA shares. Credit Suisse Group set a $34.00 price target on Axalta Coating Systems and gave the stock a “buy” rating in a report on Thursday, December 13th. Seaport Global Securities raised Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, October 29th. Barclays cut their price target on Axalta Coating Systems from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday, October 26th. Zacks Investment Research raised Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Finally, BMO Capital Markets cut their price target 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 equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.30.

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About Axalta Coating Systems

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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