Berman Capital Advisors LLC lifted its stake in Axalta Coating Systems Ltd (NYSE:AXTA) by 97.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,490 shares of the specialty chemicals company’s stock after purchasing an additional 5,684 shares during the period. Berman Capital Advisors LLC’s holdings in Axalta Coating Systems were worth $289,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AXTA. Diamond Hill Capital Management Inc. raised its stake in Axalta Coating Systems by 4.2% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 11,074,847 shares of the specialty chemicals company’s stock worth $259,373,000 after buying an additional 444,255 shares during the period. BlackRock Inc. raised its stake in Axalta Coating Systems by 0.6% during the 4th quarter. BlackRock Inc. now owns 10,945,101 shares of the specialty chemicals company’s stock worth $256,336,000 after buying an additional 64,482 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Axalta Coating Systems by 17.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,704,794 shares of the specialty chemicals company’s stock worth $133,606,000 after buying an additional 844,587 shares during the period. Millennium Management LLC raised its stake in Axalta Coating Systems by 139.8% during the 4th quarter. Millennium Management LLC now owns 5,188,939 shares of the specialty chemicals company’s stock worth $121,525,000 after buying an additional 3,025,348 shares during the period. Finally, Praesidium Investment Management Company LLC raised its stake in Axalta Coating Systems by 9.9% during the 4th quarter. Praesidium Investment Management Company LLC now owns 4,394,880 shares of the specialty chemicals company’s stock worth $102,928,000 after buying an additional 397,507 shares during the period.
AXTA has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded Axalta Coating Systems from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $27.00 in a research note on Friday, April 26th. BMO Capital Markets set a $32.00 price objective on Axalta Coating Systems and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Zacks Investment Research raised Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Axalta Coating Systems presently has an average rating of “Hold” and an average target price of $30.09.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.13. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $0.27 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts expect that Axalta Coating Systems Ltd will post 1.72 EPS for the current fiscal year.
In other news, Director Andreas Kramvis sold 55,048 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $28.11, for a total value of $1,547,399.28. Following the completion of the transaction, the director now owns 50,628 shares in the company, valued at approximately $1,423,153.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles W. Shaver sold 500,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $26.71, for a total value of $13,355,000.00. Following the completion of the transaction, the director now owns 394,656 shares of the company’s stock, valued at approximately $10,541,261.76. The disclosure for this sale can be found here. Insiders sold a total of 867,048 shares of company stock worth $22,868,084 in the last three months. Company insiders own 2.10% of the company’s stock.
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Axalta Coating Systems Company 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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