ING Groep NV Purchases New Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

ING Groep NV purchased a new stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 180,000 shares of the specialty chemicals company’s stock, valued at approximately $6,160,000. ING Groep NV owned approximately 0.08% of Axalta Coating Systems at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp increased its position in shares of Axalta Coating Systems by 0.7% in the third quarter. State Street Corp now owns 6,822,955 shares of the specialty chemicals company’s stock valued at $246,923,000 after buying an additional 46,813 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Axalta Coating Systems by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock worth $132,823,000 after purchasing an additional 31,894 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Axalta Coating Systems by 4.2% during the third quarter. Westfield Capital Management Co. LP now owns 2,096,790 shares of the specialty chemicals company’s stock worth $75,883,000 after purchasing an additional 84,594 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Axalta Coating Systems by 11.5% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,991,660 shares of the specialty chemicals company’s stock worth $72,078,000 after purchasing an additional 205,085 shares in the last quarter. Finally, PointState Capital LP purchased a new stake in shares of Axalta Coating Systems during the third quarter worth approximately $30,257,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Axalta Coating Systems Price Performance

AXTA stock opened at $36.02 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $7.86 billion, a PE ratio of 20.23, a P/E/G ratio of 0.94 and a beta of 1.46. Axalta Coating Systems Ltd. has a 12-month low of $30.41 and a 12-month high of $41.65. The business’s fifty day moving average price is $35.89 and its 200 day moving average price is $36.56.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.09. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

Insiders Place Their Bets

In other Axalta Coating Systems news, insider Troy D. Weaver sold 10,457 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $37.57, for a total transaction of $392,869.49. Following the sale, the insider now owns 74,905 shares in the company, valued at $2,814,180.85. This represents a 12.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AXTA has been the subject of several research reports. Royal Bank of Canada boosted their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. KeyCorp reissued a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday, December 17th. BMO Capital Markets boosted their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays boosted their price objective on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, Wolfe Research raised Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.08.

About Axalta Coating Systems

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.