Axiall Corp. (AXLL) Position Increased by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. boosted its stake in shares of Axiall Corp. (NYSE:AXLL) by 12.6% during the second quarter, Holdings Channel reports. The institutional investor owned 67,336 shares of the company’s stock after buying an additional 7,556 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.10% of Axiall Corp. worth $2,195,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AXLL. Jacobs Levy Equity Management Inc. purchased a new position in Axiall Corp. during the first quarter valued at approximately $4,642,000. Brigade Capital Management LP increased its position in Axiall Corp. by 22.6% in the first quarter. Brigade Capital Management LP now owns 1,241,772 shares of the company’s stock valued at $27,120,000 after buying an additional 229,000 shares in the last quarter. Price Michael F purchased a new position in Axiall Corp. during the first quarter valued at approximately $2,512,000. Adage Capital Partners GP L.L.C. purchased a new position in Axiall Corp. during the first quarter valued at approximately $19,681,000. Finally, Loomis Sayles & Co. L P increased its position in Axiall Corp. by 2.1% in the first quarter. Loomis Sayles & Co. L P now owns 449,189 shares of the company’s stock valued at $9,811,000 after buying an additional 9,111 shares in the last quarter.
Axiall Corp. (NYSE:AXLL) remained flat at $33.00 during trading on Friday. Axiall Corp. has a one year low of $9.04 and a one year high of $33.49. The firm has a 50-day moving average of $33.00 and a 200-day moving average of $28.86.
Axiall Corp. (NYSE:AXLL) last posted its earnings results on Monday, August 8th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.11. The firm had revenue of $776.10 million for the quarter, compared to analysts’ expectations of $838 million. The firm’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, equities analysts predict that Axiall Corp. will post $0.53 earnings per share for the current year.
Several research firms recently commented on AXLL. TheStreet raised Axiall Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. JPMorgan Chase & Co. downgraded Axiall Corp. from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $26.50 to $33.00 in a research note on Monday, June 13th. They noted that the move was a valuation call. Citigroup Inc. increased their price objective on Axiall Corp. from $23.35 to $33.00 and gave the company a “neutral” rating in a research note on Monday, June 13th. Finally, Nomura reaffirmed a “hold” rating on shares of Axiall Corp. in a research note on Monday, July 11th. Eight research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $27.00.
Axiall Corp. Company Profile
Axiall Corporation (Axiall) is a manufacturer and international marketer of chemicals and building products. The Company operates through two segments: chlorovinyls and building products. Its products include chlorine, caustic soda, vinyl chloride monomer, siding and exterior accessories, and pipe and pipe fittings, among others.
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