Ossiam lifted its holdings in Axalta Coating Systems Ltd (NYSE:AXTA) by 113.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,542 shares of the specialty chemicals company’s stock after buying an additional 11,993 shares during the quarter. Ossiam’s holdings in Axalta Coating Systems were worth $671,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC increased its holdings in 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 buying an additional 787 shares in the last quarter. NEXT Financial Group Inc increased its stake in 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 in the last quarter. Hexavest Inc. purchased a new position in Axalta Coating Systems in the 2nd quarter valued at approximately $46,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Axalta Coating Systems in the 2nd quarter valued at approximately $57,000. Finally, SRS Capital Advisors Inc. acquired a new position in Axalta Coating Systems during the second quarter worth $58,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:AXTA traded down $0.19 during mid-day trading on Wednesday, reaching $30.38. The company’s stock had a trading volume of 56,462 shares, compared to its average volume of 1,921,603. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.32 and a quick ratio of 1.71. The stock has a market cap of $7.12 billion, a P/E ratio of 23.70, a P/E/G ratio of 1.27 and a beta of 1.46. The company’s fifty day simple moving average is $28.80 and its two-hundred day simple moving average is $27.40. Axalta Coating Systems Ltd has a twelve month low of $21.58 and a twelve month high of $32.14.
Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. Axalta Coating Systems had a net margin of 4.45% and a return on equity of 27.59%. Axalta Coating Systems’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. Sell-side analysts expect that Axalta Coating Systems Ltd will post 1.79 EPS for the current fiscal year.
A number of analysts have commented on the company. Robert W. Baird boosted their target price on Axalta Coating Systems from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. TheStreet upgraded Axalta Coating Systems from a “c+” rating to a “b” rating in a research report on Friday, July 26th. Nomura lifted their price target on Axalta Coating Systems from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Credit Suisse Group boosted their price objective on shares of Axalta Coating Systems from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Maxim Group assumed coverage on shares of Axalta Coating Systems in a research report on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.77.
Axalta Coating Systems 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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