JPMorgan Chase & Co. Reduces Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

JPMorgan Chase & Co. cut its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,230,362 shares of the specialty chemicals company’s stock after selling 1,061,787 shares during the period. JPMorgan Chase & Co. owned about 5.15% of Axalta Coating Systems worth $406,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in shares of Axalta Coating Systems by 35.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 266 shares during the last quarter. Signaturefd LLC grew its position in Axalta Coating Systems by 14.1% during the third quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company’s stock valued at $130,000 after buying an additional 444 shares during the period. Venturi Wealth Management LLC increased its holdings in Axalta Coating Systems by 30.2% during the third quarter. Venturi Wealth Management LLC now owns 1,964 shares of the specialty chemicals company’s stock valued at $71,000 after buying an additional 455 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Axalta Coating Systems by 4.4% in the third quarter. Verdence Capital Advisors LLC now owns 11,162 shares of the specialty chemicals company’s stock worth $404,000 after acquiring an additional 473 shares during the period. Finally, KBC Group NV boosted its stake in shares of Axalta Coating Systems by 13.9% during the 3rd quarter. KBC Group NV now owns 5,859 shares of the specialty chemicals company’s stock worth $212,000 after acquiring an additional 716 shares during the last quarter. 98.28% of the stock is owned by institutional investors.

Axalta Coating Systems Trading Down 0.8 %

Shares of Axalta Coating Systems stock opened at $34.37 on Friday. Axalta Coating Systems Ltd. has a twelve month low of $30.40 and a twelve month high of $41.65. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The business has a 50-day moving average price of $38.15 and a 200-day moving average price of $36.24. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 0.83 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. Equities research analysts anticipate that Axalta Coating Systems Ltd. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on AXTA. Evercore ISI started coverage on Axalta Coating Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. Mizuho raised their price objective on Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price objective on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. KeyCorp restated a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada upped their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

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.