Wedge Capital Management L L P NC Sells 1,149 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Wedge Capital Management L L P NC reduced its position in Axalta Coating Systems Ltd. (NYSE:AXTAGet Rating) by 4.3% in the 2nd quarter, Holdings Channel reports. The firm owned 25,285 shares of the specialty chemicals company’s stock after selling 1,149 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Axalta Coating Systems were worth $559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Markel Corp bought a new position in Axalta Coating Systems in the first quarter worth $507,000. American Trust bought a new position in Axalta Coating Systems in the first quarter worth $202,000. Teachers Retirement System of The State of Kentucky lifted its position in Axalta Coating Systems by 20.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 88,644 shares of the specialty chemicals company’s stock worth $2,179,000 after purchasing an additional 14,950 shares during the period. Verition Fund Management LLC lifted its position in Axalta Coating Systems by 2.7% in the first quarter. Verition Fund Management LLC now owns 265,847 shares of the specialty chemicals company’s stock worth $6,535,000 after purchasing an additional 7,068 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Axalta Coating Systems by 118.0% during the first quarter. BNP Paribas Arbitrage SA now owns 60,400 shares of the specialty chemicals company’s stock worth $1,485,000 after acquiring an additional 32,698 shares in the last quarter.

Axalta Coating Systems Stock Performance

Shares of NYSE:AXTA opened at $24.04 on Wednesday. The business has a fifty day moving average of $25.22 and a 200-day moving average of $25.05. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.33 and a current ratio of 1.93. The firm has a market cap of $5.30 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.31 and a beta of 1.32. Axalta Coating Systems Ltd. has a twelve month low of $21.44 and a twelve month high of $34.12.

Axalta Coating Systems (NYSE:AXTAGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The specialty chemicals company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. Axalta Coating Systems had a return on equity of 21.80% and a net margin of 4.49%. During the same period last year, the company earned $0.48 earnings per share. On average, equities research analysts predict that Axalta Coating Systems Ltd. will post 1.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on AXTA shares. Mizuho dropped their price objective on Axalta Coating Systems from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. UBS Group dropped their price objective on Axalta Coating Systems from $33.00 to $30.00 in a research note on Wednesday, July 13th. Wells Fargo & Company increased their price objective on Axalta Coating Systems from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. StockNews.com lowered Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. Finally, Barclays dropped their price objective on Axalta Coating Systems from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, July 11th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.50.

Axalta Coating Systems Company Profile

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Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

See Also

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

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