The Manufacturers Life Insurance Company Sells 40,677 Shares of Axalta Coating Systems Ltd. $AXTA

The Manufacturers Life Insurance Company reduced its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 28.4% during the first quarter, Holdings Channel reports. The institutional investor owned 102,594 shares of the specialty chemicals company’s stock after selling 40,677 shares during the period. The Manufacturers Life Insurance Company’s holdings in Axalta Coating Systems were worth $2,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXTA. Goldman Sachs Group Inc. lifted its holdings in Axalta Coating Systems by 4.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,161,682 shares of the specialty chemicals company’s stock valued at $38,533,000 after purchasing an additional 51,130 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Axalta Coating Systems by 29.0% in the first quarter. Jane Street Group LLC now owns 156,122 shares of the specialty chemicals company’s stock worth $5,179,000 after purchasing an additional 35,092 shares in the last quarter. Invesco Ltd. raised its position in shares of Axalta Coating Systems by 8.5% during the 2nd quarter. Invesco Ltd. now owns 406,511 shares of the specialty chemicals company’s stock valued at $12,069,000 after purchasing an additional 31,759 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Axalta Coating Systems by 371.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,501 shares of the specialty chemicals company’s stock valued at $104,000 after buying an additional 2,758 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Axalta Coating Systems by 22.0% in the 2nd quarter. First Trust Advisors LP now owns 318,122 shares of the specialty chemicals company’s stock worth $9,445,000 after buying an additional 57,440 shares during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.

Axalta Coating Systems Price Performance

Shares of AXTA stock opened at $38.22 on Friday. The company has a market capitalization of $8.18 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.89 and a beta of 1.24. The company’s 50-day simple moving average is $33.77 and its two-hundred day simple moving average is $31.47. Axalta Coating Systems Ltd. has a one year low of $24.94 and a one year high of $38.61. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.53 and a quick ratio of 1.12.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Tuesday, July 28th. The specialty chemicals company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. Axalta Coating Systems had a net margin of 6.78% and a return on equity of 22.35%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. Axalta Coating Systems has set its FY 2026 guidance at 2.550-2.700 EPS and its Q3 2026 guidance at 0.700-0.700 EPS. As a group, equities analysts anticipate that Axalta Coating Systems Ltd. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on AXTA. Mizuho raised their price target on Axalta Coating Systems from $32.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. BMO Capital Markets increased their target price on Axalta Coating Systems from $35.00 to $39.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Wall Street Zen raised Axalta Coating Systems from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd. The Goldman Sachs Group set a $36.00 price target on Axalta Coating Systems in a report on Friday, May 1st. Finally, Robert W. Baird boosted their target price on shares of Axalta Coating Systems from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Axalta Coating Systems currently has an average rating of “Hold” and an average price target of $36.00.

Axalta Coating Systems Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.