California Public Employees Retirement System Sells 30,968 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

California Public Employees Retirement System lowered its holdings in Axalta Coating Systems Ltd. (NYSE:AXTAGet Rating) by 7.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 378,969 shares of the specialty chemicals company’s stock after selling 30,968 shares during the quarter. California Public Employees Retirement System’s holdings in Axalta Coating Systems were worth $8,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AXTA. Atticus Wealth Management LLC bought a new stake in shares of Axalta Coating Systems in the second quarter valued at approximately $32,000. Parallel Advisors LLC raised its position in shares of Axalta Coating Systems by 42.8% in the second quarter. Parallel Advisors LLC now owns 2,134 shares of the specialty chemicals company’s stock valued at $47,000 after purchasing an additional 640 shares during the period. M&T Bank Corp bought a new stake in shares of Axalta Coating Systems in the second quarter valued at approximately $192,000. American Trust bought a new stake in shares of Axalta Coating Systems in the first quarter valued at approximately $202,000. Finally, Xponance Inc. bought a new stake in shares of Axalta Coating Systems in the second quarter valued at approximately $204,000.

Axalta Coating Systems Trading Up 2.2 %

NYSE:AXTA opened at $26.35 on Wednesday. The company has a fifty day moving average of $23.60 and a 200 day moving average of $24.58. Axalta Coating Systems Ltd. has a 52 week low of $20.66 and a 52 week high of $34.12. The company has a quick ratio of 1.36, a current ratio of 1.98 and a debt-to-equity ratio of 2.78. The firm has a market capitalization of $5.81 billion, a P/E ratio of 29.61, a P/E/G ratio of 1.47 and a beta of 1.34.

Axalta Coating Systems (NYSE:AXTAGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The specialty chemicals company reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. Axalta Coating Systems had a net margin of 4.20% and a return on equity of 22.19%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $0.39 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. On average, research analysts predict that Axalta Coating Systems Ltd. will post 1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AXTA shares. Exane BNP Paribas lowered shares of Axalta Coating Systems from an “outperform” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research report on Friday, October 28th. Morgan Stanley reduced their price objective on shares of Axalta Coating Systems from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, October 28th. The Goldman Sachs Group began coverage on shares of Axalta Coating Systems in a research note on Thursday, October 13th. They set a “buy” rating and a $29.00 price objective for the company. StockNews.com initiated coverage on shares of Axalta Coating Systems in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Credit Suisse Group initiated coverage on shares of Axalta Coating Systems in a research note on Friday, October 21st. They issued an “underperform” rating and a $20.00 price target for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Axalta Coating Systems presently has an average rating of “Hold” and a consensus price target of $27.68.

Axalta Coating Systems Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding AXTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axalta Coating Systems Ltd. (NYSE:AXTAGet Rating).

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

Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.