Pacific Alternative Asset Management Company LLC purchased a new stake in shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 87,389 shares of the specialty chemicals company’s stock, valued at approximately $2,800,000. Axalta Coating Systems accounts for approximately 0.7% of Pacific Alternative Asset Management Company LLC’s investment portfolio, making the stock its 19th largest position.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Axalta Coating Systems by 6,436.4% during the first quarter. BlackRock Inc. now owns 18,564,446 shares of the specialty chemicals company’s stock valued at $597,775,000 after purchasing an additional 18,280,429 shares during the period. Vanguard Group Inc. grew its holdings in Axalta Coating Systems by 3.8% during the second quarter. Vanguard Group Inc. now owns 18,161,002 shares of the specialty chemicals company’s stock valued at $581,878,000 after purchasing an additional 660,223 shares during the period. Davis Selected Advisers grew its holdings in Axalta Coating Systems by 7.9% during the second quarter. Davis Selected Advisers now owns 7,228,390 shares of the specialty chemicals company’s stock valued at $231,598,000 after purchasing an additional 528,794 shares during the period. FMR LLC grew its holdings in Axalta Coating Systems by 11.4% during the second quarter. FMR LLC now owns 3,544,159 shares of the specialty chemicals company’s stock valued at $113,555,000 after purchasing an additional 362,569 shares during the period. Finally, Praesidium Investment Management Company LLC grew its holdings in Axalta Coating Systems by 0.6% during the first 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 purchasing an additional 18,409 shares during the period.

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Several research firms have issued reports on AXTA. BidaskClub raised Axalta Coating Systems from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Bank of America Corporation lowered Axalta Coating Systems from a “buy” rating to an “underperform” rating and cut their price target for the company from $36.00 to $30.00 in a report on Wednesday, June 21st. Susquehanna Bancshares Inc started coverage on Axalta Coating Systems in a report on Tuesday, July 18th. They set a “neutral” rating and a $37.00 price target for the company. Royal Bank Of Canada restated 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 issued a $39.00 price objective (up from $37.00) on shares of Axalta Coating Systems in a research report on Tuesday, June 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.36.

Axalta Coating Systems Ltd (NASDAQ:AXTA) traded down 0.51% during midday trading on Friday, hitting $29.08. The company had a trading volume of 309,547 shares. The company has a 50 day moving average price of $29.17 and a 200 day moving average price of $31.22. The firm has a market capitalization of $7.07 billion and a P/E ratio of 2908.00. Axalta Coating Systems Ltd has a 1-year low of $24.27 and a 1-year high of $34.10.

Axalta Coating Systems (NASDAQ:AXTA) last posted its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate 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 negative net margin of 1.73% and a negative return on equity of 6.61%. Axalta Coating Systems’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. Equities research analysts forecast that Axalta Coating Systems Ltd will post $1.30 earnings per share for the current fiscal year.

In related news, CFO Robert W. Bryant sold 114,500 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $32.13, for a total value of $3,678,885.00. Following the transaction, the chief financial officer now directly owns 328,234 shares of the company’s stock, valued at approximately $10,546,158.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Sean M. Lannon sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $33.00, for a total transaction of $165,000.00. Following the completion of the transaction, the vice president now directly owns 16,286 shares in the company, valued at $537,438. The disclosure for this sale can be found here. Insiders sold a total of 319,500 shares of company stock worth $9,828,285 over the last ninety days.

About Axalta Coating Systems

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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