First Trust Advisors LP reduced its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 83.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 51,057 shares of the specialty chemicals company’s stock after selling 252,790 shares during the period. First Trust Advisors LP’s holdings in Axalta Coating Systems were worth $1,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AXTA. Bessemer Group Inc. lifted its holdings in shares of Axalta Coating Systems by 554,273.3% during the 2nd quarter. Bessemer Group Inc. now owns 2,760,779 shares of the specialty chemicals company’s stock worth $88,456,000 after acquiring an additional 2,760,281 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Axalta Coating Systems by 8,917.7% in the second quarter. Janus Henderson Group PLC now owns 2,210,694 shares of the specialty chemicals company’s stock worth $70,831,000 after purchasing an additional 2,186,179 shares during the last quarter. Voya Investment Management LLC lifted its stake in Axalta Coating Systems by 2,384.0% in the second quarter. Voya Investment Management LLC now owns 1,643,485 shares of the specialty chemicals company’s stock worth $52,657,000 after purchasing an additional 1,577,323 shares during the last quarter. Gruss Capital Management LP bought a new stake in Axalta Coating Systems in the second quarter worth $31,079,000. Finally, Goldman Sachs Group Inc. lifted its stake in Axalta Coating Systems by 62.0% in the second quarter. Goldman Sachs Group Inc. now owns 2,347,838 shares of the specialty chemicals company’s stock worth $75,225,000 after purchasing an additional 898,678 shares during the last quarter. 99.28% of the stock is owned by institutional investors.

In related news, EVP Steven R. Markevich sold 900 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $29.42, for a total transaction of $26,478.00. Following the transaction, the executive vice president now owns 201,393 shares in the company, valued at $5,924,982.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael A. Cash sold 34,874 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $30.00, for a total transaction of $1,046,220.00. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Axalta Coating Systems Ltd. (NYSE AXTA) traded down $5.89 during mid-day trading on Friday, hitting $31.66. 23,148,102 shares of the company’s stock were exchanged, compared to its average volume of 2,322,859. Axalta Coating Systems Ltd. has a 12-month low of $24.72 and a 12-month high of $38.20. The stock has a market capitalization of $8,853.53, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.28 and a beta of 1.62. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.11 and a quick ratio of 1.50.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Axalta Coating Systems had a net margin of 1.46% and a return on equity of 19.91%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. research analysts expect that Axalta Coating Systems Ltd. will post 1.15 EPS for the current fiscal year.

Several analysts have weighed in on the stock. Citigroup lowered their price target on shares of Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Vertical Research downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research note on Friday. BidaskClub downgraded shares of Axalta Coating Systems from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Instinet reissued a “neutral” rating and issued a $28.00 price target (down from $30.00) on shares of Axalta Coating Systems in a research note on Friday, October 13th. Finally, Robert W. Baird reissued a “buy” rating and issued a $35.00 price target on shares of Axalta Coating Systems in a research note on Monday, October 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine 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 $33.73.

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Axalta Coating Systems 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 (NYSE:AXTA)

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