American Century Companies Inc. acquired a new position in shares of Axalta Coating Systems Ltd (NYSE:AXTA) in the 2nd quarter, Holdings Channel reports. The fund acquired 11,425 shares of the specialty chemicals company’s stock, valued at approximately $346,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Harbour Group L.P. lifted its position in Axalta Coating Systems by 137.7% in the first quarter. Blue Harbour Group L.P. now owns 2,878,000 shares of the specialty chemicals company’s stock worth $86,887,000 after purchasing an additional 1,667,036 shares during the period. Parnassus Investments CA increased its holdings in shares of Axalta Coating Systems by 32.5% in the second quarter. Parnassus Investments CA now owns 3,509,561 shares of the specialty chemicals company’s stock valued at $106,375,000 after buying an additional 860,061 shares in the last quarter. Element Capital Management LLC increased its holdings in shares of Axalta Coating Systems by 255.4% in the first quarter. Element Capital Management LLC now owns 1,067,810 shares of the specialty chemicals company’s stock valued at $32,237,000 after buying an additional 767,356 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Axalta Coating Systems by 20.3% in the first quarter. Artisan Partners Limited Partnership now owns 4,069,385 shares of the specialty chemicals company’s stock valued at $122,855,000 after buying an additional 686,560 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Axalta Coating Systems by 23.4% in the second quarter. Bessemer Group Inc. now owns 3,397,956 shares of the specialty chemicals company’s stock valued at $102,994,000 after buying an additional 643,654 shares in the last quarter.

Shares of NYSE:AXTA opened at $29.23 on Friday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.67 and a current ratio of 2.27. Axalta Coating Systems Ltd has a 12-month low of $28.04 and a 12-month high of $38.20. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.59 and a beta of 1.26.

Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Axalta Coating Systems had a net margin of 2.97% and a return on equity of 21.32%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $0.31 EPS. The company’s revenue was up 10.7% on a year-over-year basis. sell-side analysts forecast that Axalta Coating Systems Ltd will post 1.27 earnings per share for the current fiscal year.

In other Axalta Coating Systems news, Director Robert M. Mclaughlin sold 4,920 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $30.33, for a total transaction of $149,223.60. Following the sale, the director now directly owns 39,442 shares of the company’s stock, valued at approximately $1,196,275.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Steven R. Markevich sold 15,332 shares of the business’s stock in a transaction on Thursday, July 12th. The shares were sold at an average price of $29.81, for a total transaction of $457,046.92. Following the transaction, the executive vice president now owns 190,529 shares in the company, valued at $5,679,669.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 344,526 shares of company stock worth $10,253,262. Company insiders own 2.30% of the company’s stock.

Several research firms have issued reports on AXTA. Barclays reaffirmed a “hold” rating and issued a $32.00 price target on shares of Axalta Coating Systems in a report on Tuesday, July 31st. Zacks Investment Research raised Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Monday, July 30th. KeyCorp dropped their price target on Axalta Coating Systems from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. JPMorgan Chase & Co. raised Axalta Coating Systems from a “neutral” rating to an “overweight” rating and set a $33.00 price target on the stock in a report on Friday, July 27th. Finally, Nomura dropped their price target on Axalta Coating Systems from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. Axalta Coating Systems currently has an average rating of “Hold” and a consensus target price of $33.77.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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

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