State Board of Administration of Florida Retirement System Sells 6,260 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

State Board of Administration of Florida Retirement System lowered its position in Axalta Coating Systems Ltd. (NYSE:AXTA – Get Rating) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,446 shares of the specialty chemicals company’s stock after selling 6,260 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Axalta Coating Systems were worth $5,156,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Signaturefd LLC increased its position in shares of Axalta Coating Systems by 16.9% in the 4th quarter. Signaturefd LLC now owns 3,050 shares of the specialty chemicals company’s stock valued at $78,000 after buying an additional 442 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in Axalta Coating Systems during the 4th quarter worth about $105,000. Simplicity Solutions LLC bought a new position in Axalta Coating Systems during the 4th quarter worth about $209,000. Kestra Advisory Services LLC bought a new position in Axalta Coating Systems during the 4th quarter worth about $210,000. Finally, Ellevest Inc. increased its holdings in Axalta Coating Systems by 37.7% during the 3rd quarter. Ellevest Inc. now owns 10,066 shares of the specialty chemicals company’s stock worth $212,000 after purchasing an additional 2,758 shares in the last quarter.

Insider Buying and Selling at Axalta Coating Systems

In related news, Director William M. Cook purchased 2,500 shares of the stock in a transaction on Tuesday, March 14th. The shares were purchased at an average cost of $29.55 per share, with a total value of $73,875.00. Following the acquisition, the director now directly owns 4,500 shares in the company, valued at $132,975. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Axalta Coating Systems news, Director William M. Cook bought 2,500 shares of the stock in a transaction dated Tuesday, March 14th. The shares were bought at an average cost of $29.55 per share, with a total value of $73,875.00. Following the completion of the acquisition, the director now owns 4,500 shares of the company’s stock, valued at $132,975. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chris Villavarayan bought 34,440 shares of the stock in a transaction dated Monday, March 13th. The shares were acquired at an average cost of $29.20 per share, for a total transaction of $1,005,648.00. Following the completion of the acquisition, the chief executive officer now directly owns 34,440 shares of the company’s stock, valued at approximately $1,005,648. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays increased their target price on Axalta Coating Systems from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, April 3rd. Seaport Res Ptn reiterated a “buy” rating on shares of Axalta Coating Systems in a report on Monday. Wells Fargo & Company increased their target price on Axalta Coating Systems from $29.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, April 17th. BMO Capital Markets increased 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 note on Monday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Axalta Coating Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $40.00 in a research note on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.95.

Axalta Coating Systems Trading Down 0.5 %

Shares of NYSE:AXTA opened at $30.27 on Friday. Axalta Coating Systems Ltd. has a 52-week low of $20.66 and a 52-week high of $32.56. The company has a market capitalization of $6.71 billion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 1.61 and a beta of 1.43. The company has a 50-day simple moving average of $30.13 and a 200 day simple moving average of $27.98. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.43 and a current ratio of 2.05.

Axalta Coating Systems (NYSE:AXTA – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.04. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Axalta Coating Systems had a net margin of 4.22% and a return on equity of 23.36%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. Sell-side analysts forecast that Axalta Coating Systems Ltd. will post 1.48 earnings per share for the current year.

Axalta Coating Systems Company Profile

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Axalta Coating Systems Ltd. engages in the manufacture, marketing and distribution of coatings systems. It operates through the Performance Coatings and Mobility Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.