Prudential Financial Inc. raised its position in shares of Axalta Coating Systems Ltd (NYSE:AXTA) by 4.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,310 shares of the specialty chemicals company’s stock after purchasing an additional 500 shares during the quarter. Prudential Financial Inc.’s holdings in Axalta Coating Systems were worth $265,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in AXTA. FMR LLC raised its position in shares of Axalta Coating Systems by 79.9% during the third quarter. FMR LLC now owns 6,696,710 shares of the specialty chemicals company’s stock valued at $195,277,000 after buying an additional 2,973,422 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Axalta Coating Systems by 4.3% during the third quarter. William Blair Investment Management LLC now owns 3,986,483 shares of the specialty chemicals company’s stock valued at $116,246,000 after buying an additional 163,372 shares during the last quarter. Parnassus Investments CA raised its position in shares of Axalta Coating Systems by 2.1% during the fourth quarter. Parnassus Investments CA now owns 3,584,561 shares of the specialty chemicals company’s stock valued at $83,950,000 after buying an additional 75,000 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Axalta Coating Systems by 89.4% during the third quarter. Renaissance Technologies LLC now owns 2,349,500 shares of the specialty chemicals company’s stock valued at $68,511,000 after buying an additional 1,108,903 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Axalta Coating Systems by 26.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,826,291 shares of the specialty chemicals company’s stock worth $53,255,000 after purchasing an additional 387,013 shares during the last quarter.
In other Axalta Coating Systems news, Director Charles W. Shaver sold 309,820 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $25.52, for a total value of $7,906,606.40. Following the completion of the transaction, the director now directly owns 440,775 shares in the company, valued at $11,248,578. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andreas Kramvis sold 55,048 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $28.11, for a total transaction of $1,547,399.28. Following the transaction, the director now owns 50,628 shares in the company, valued at approximately $1,423,153.08. The disclosure for this sale can be found here. Insiders sold 962,918 shares of company stock valued at $25,373,442 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, January 30th. The specialty chemicals company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. Axalta Coating Systems had a net margin of 4.42% and a return on equity of 22.20%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.26) earnings per share. Sell-side analysts anticipate that Axalta Coating Systems Ltd will post 1.33 EPS for the current fiscal year.
Several equities research analysts recently weighed in on AXTA shares. Zacks Investment Research cut shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Thursday, December 27th. Bank of America upgraded shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $30.30.
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Axalta Coating Systems Profile
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers 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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