Nisa Investment Advisors LLC Holds Stake in Axalta Coating Systems Ltd (AXTA)
Nisa Investment Advisors LLC continued to hold its position in shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,700 shares of the specialty chemicals company’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in Axalta Coating Systems were worth $465,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Axalta Coating Systems by 6,436.4% in the first quarter. BlackRock Inc. now owns 18,564,446 shares of the specialty chemicals company’s stock valued at $597,775,000 after buying an additional 18,280,429 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Axalta Coating Systems by 260.7% in the first quarter. TIAA CREF Investment Management LLC now owns 1,898,024 shares of the specialty chemicals company’s stock valued at $61,116,000 after buying an additional 1,371,808 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Axalta Coating Systems during the first quarter valued at about $38,627,000. Marshall Wace North America L.P. purchased a new position in shares of Axalta Coating Systems during the first quarter valued at about $38,627,000. Finally, Vanguard Group Inc. boosted its position in shares of Axalta Coating Systems by 5.0% in the first quarter. Vanguard Group Inc. now owns 17,500,779 shares of the specialty chemicals company’s stock valued at $563,525,000 after buying an additional 841,048 shares in the last quarter.
Shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) traded up 1.757% during trading on Friday, reaching $28.675. The company’s stock had a trading volume of 2,887,455 shares. Axalta Coating Systems Ltd has a one year low of $24.27 and a one year high of $34.10. The stock has a market cap of $6.97 billion and a price-to-earnings ratio of 2867.500. The company has a 50-day moving average price of $31.70 and a 200-day moving average price of $31.25.
Axalta Coating Systems (NASDAQ:AXTA) last released its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.08. Axalta Coating Systems had a return on equity of 21.46% and a net margin of 6.50%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Axalta Coating Systems Ltd will post $1.31 earnings per share for the current fiscal year.
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AXTA has been the topic of several recent analyst reports. Bank of America Corporation cut shares of Axalta Coating Systems from a “buy” rating to an “underperform” rating and cut their target price for the stock from $36.00 to $30.00 in a report on Wednesday, June 21st. Nomura cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a report on Friday, April 21st. Citigroup Inc. reiterated a “neutral” rating and issued a $33.00 price target (up previously from $30.00) on shares of Axalta Coating Systems in a report on Friday, April 14th. Instinet cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Friday, April 21st. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $36.00 price target on shares of Axalta Coating Systems in a report on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.80.
In related news, Director Samuel L. Smolik bought 4,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average cost of $28.16 per share, with a total value of $112,640.00. Following the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $112,640. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sean M. Lannon sold 5,000 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $33.00, for a total value of $165,000.00. Following the transaction, the vice president now directly owns 16,286 shares of the company’s stock, valued at $537,438. The disclosure for this sale can be found here. Insiders have sold a total of 438,289 shares of company stock valued at $13,876,363 over the last three months.
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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