Acrospire Investment Management LLC grew its position in Axalta Coating Systems Ltd (NASDAQ:AXTA) by 257.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,862 shares of the specialty chemicals company’s stock after acquiring an additional 3,500 shares during the period. Acrospire Investment Management LLC’s holdings in Axalta Coating Systems were worth $156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Axalta Coating Systems by 6,436.4% in the 1st quarter. BlackRock Inc. now owns 18,564,446 shares of the specialty chemicals company’s stock valued at $597,775,000 after acquiring an additional 18,280,429 shares during the period. Vanguard Group Inc. grew its position in shares of Axalta Coating Systems by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 17,500,779 shares of the specialty chemicals company’s stock valued at $563,525,000 after acquiring an additional 841,048 shares during the period. Davis Selected Advisers grew its position in shares of Axalta Coating Systems by 7.9% in the 2nd quarter. Davis Selected Advisers now owns 7,228,390 shares of the specialty chemicals company’s stock valued at $231,598,000 after acquiring an additional 528,794 shares during the period. William Blair Investment Management LLC grew its position in shares of Axalta Coating Systems by 8.6% in the 1st quarter. William Blair Investment Management LLC now owns 4,973,244 shares of the specialty chemicals company’s stock valued at $160,138,000 after acquiring an additional 394,692 shares during the period. Finally, Praesidium Investment Management Company LLC grew its position in shares of Axalta Coating Systems by 0.6% in the 1st quarter. Praesidium Investment Management Company LLC now owns 3,338,024 shares of the specialty chemicals company’s stock valued at $107,484,000 after acquiring an additional 18,409 shares during the period.

Shares of Axalta Coating Systems Ltd (AXTA) traded up 0.41% during mid-day trading on Monday, reaching $29.37. 69,971 shares of the company’s stock traded hands. Axalta Coating Systems Ltd has a 12-month low of $24.27 and a 12-month high of $34.10. The company has a market cap of $7.14 billion and a P/E ratio of 2937.00. The firm has a 50-day moving average of $29.32 and a 200 day moving average of $31.20.

Axalta Coating Systems (NASDAQ:AXTA) last announced its 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 company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. Equities analysts forecast that Axalta Coating Systems Ltd will post $1.30 EPS for the current year.

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In related news, VP Sean M. Lannon sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $33.00, for a total value of $165,000.00. Following the sale, the vice president now directly owns 16,286 shares of the company’s stock, valued at $537,438. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph F. Mcdougall sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $32.13, for a total transaction of $1,285,200.00. Following the completion of the sale, the senior vice president now directly owns 142,551 shares in the company, valued at $4,580,163.63. The disclosure for this sale can be found here. Insiders sold 319,500 shares of company stock worth $9,828,285 over the last ninety days.

A number of brokerages have recently commented on AXTA. BidaskClub raised shares of Axalta Coating Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Bank of America Corporation downgraded shares of Axalta Coating Systems from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $36.00 to $30.00 in a research report on Wednesday, June 21st. Susquehanna Bancshares Inc began coverage on shares of Axalta Coating Systems in a research report on Tuesday, July 18th. They issued a “neutral” rating and a $37.00 price objective for the company. Royal Bank Of Canada reissued a “buy” rating and issued a $37.00 price objective on shares of Axalta Coating Systems in a research report on Friday, July 14th. Finally, UBS AG restated a “buy” rating and set a $39.00 target price (up previously from $37.00) on shares of Axalta Coating Systems in a research note on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $33.36.

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.

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

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