American International Group Inc. reduced its stake in Axalta Coating Systems Ltd (NASDAQ:AXTA) by 3.7% during the first quarter, Holdings Channel reports. The fund owned 3,748 shares of the specialty chemicals company’s stock after selling 142 shares during the period. American International Group Inc.’s holdings in Axalta Coating Systems were worth $121,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. William Blair Investment Management LLC raised its position in shares of Axalta Coating Systems by 8.6% in the first quarter. William Blair Investment Management LLC now owns 4,973,244 shares of the specialty chemicals company’s stock worth $160,138,000 after buying an additional 394,692 shares in the last quarter. Harris Associates L P raised its position in shares of Axalta Coating Systems by 8.1% in the first quarter. Harris Associates L P now owns 2,028,345 shares of the specialty chemicals company’s stock worth $65,313,000 after buying an additional 151,280 shares in the last quarter. Parnassus Investments CA raised its position in shares of Axalta Coating Systems by 4.1% in the first quarter. Parnassus Investments CA now owns 1,925,000 shares of the specialty chemicals company’s stock worth $61,985,000 after buying an additional 75,000 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Axalta Coating Systems by 1.3% in the first quarter. Wells Fargo & Company MN now owns 1,473,787 shares of the specialty chemicals company’s stock worth $47,456,000 after buying an additional 18,263 shares in the last quarter. Finally, Madison Investment Holdings Inc. raised its position in shares of Axalta Coating Systems by 0.6% in the first quarter. Madison Investment Holdings Inc. now owns 1,282,983 shares of the specialty chemicals company’s stock worth $41,312,000 after buying an additional 7,415 shares in the last quarter.

Shares of Axalta Coating Systems Ltd (AXTA) opened at 28.44 on Wednesday. The firm has a 50-day moving average price of $32.28 and a 200-day moving average price of $31.25. The firm has a market cap of $6.89 billion and a price-to-earnings ratio of 94.17. Axalta Coating Systems Ltd has a 12-month low of $24.27 and a 12-month high of $34.10.

Axalta Coating Systems (NASDAQ:AXTA) last announced its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.08. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Axalta Coating Systems had a return on equity of 21.46% and a net margin of 6.50%. Axalta Coating Systems’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. Equities research analysts anticipate that Axalta Coating Systems Ltd will post $1.30 EPS for the current year.

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A number of brokerages have recently commented on AXTA. BidaskClub lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Instinet lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Friday, April 21st. Jefferies Group LLC reissued a “buy” rating on shares of Axalta Coating Systems in a report on Thursday, July 6th. Royal Bank Of Canada reissued a “buy” rating and set a $36.00 price objective on shares of Axalta Coating Systems in a report on Thursday, July 6th. Finally, Bank of America Corporation lowered Axalta Coating Systems from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $36.00 to $30.00 in a report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $33.93.

In other news, VP Sean M. Lannon sold 4,340 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $31.35, for a total value of $136,059.00. Following the transaction, the vice president now owns 4,088 shares of the company’s stock, valued at $128,158.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Cash sold 18,851 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $31.41, for a total value of $592,109.91. Following the completion of the transaction, the senior vice president now directly owns 152,417 shares in the company, valued at approximately $4,787,417.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,289 shares of company stock worth $13,876,363.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.

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

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