Profund Advisors LLC Sells 2,309 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Profund Advisors LLC decreased its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 26.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,400 shares of the specialty chemicals company’s stock after selling 2,309 shares during the quarter. Profund Advisors LLC’s holdings in Axalta Coating Systems were worth $219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Axalta Coating Systems by 0.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock worth $512,890,000 after buying an additional 137,209 shares in the last quarter. Sei Investments Co. grew its stake in shares of Axalta Coating Systems by 7.8% during the second quarter. Sei Investments Co. now owns 386,607 shares of the specialty chemicals company’s stock valued at $13,210,000 after purchasing an additional 27,942 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Axalta Coating Systems by 1.2% during the second quarter. Canada Pension Plan Investment Board now owns 263,700 shares of the specialty chemicals company’s stock valued at $9,011,000 after purchasing an additional 3,200 shares during the last quarter. XTX Topco Ltd bought a new position in Axalta Coating Systems in the 2nd quarter worth approximately $224,000. Finally, Hsbc Holdings PLC raised its position in Axalta Coating Systems by 150.2% in the 2nd quarter. Hsbc Holdings PLC now owns 244,721 shares of the specialty chemicals company’s stock worth $8,335,000 after purchasing an additional 146,912 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Stock Down 0.4 %

Axalta Coating Systems stock opened at $37.25 on Friday. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 0.85 and a beta of 1.44. The company’s 50 day simple moving average is $35.16 and its 200 day simple moving average is $34.55. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.26 and a quick ratio of 1.70. Axalta Coating Systems Ltd. has a fifty-two week low of $25.03 and a fifty-two week high of $37.78.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axalta Coating Systems Ltd. will post 2.07 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. KeyCorp lifted their price objective on Axalta Coating Systems from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. UBS Group reduced their target price on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Robert W. Baird boosted their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Axalta Coating Systems Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through two segments, Performance Coatings and Mobility Coatings.