Victory Capital Management Inc. Trims Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Victory Capital Management Inc. lowered its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 0.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,333,597 shares of the specialty chemicals company’s stock after selling 69,649 shares during the period. Victory Capital Management Inc.’s holdings in Axalta Coating Systems were worth $373,973,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AXTA. Vanguard Group Inc. lifted its stake in shares of Axalta Coating Systems by 2.4% during the first quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after purchasing an additional 554,806 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Axalta Coating Systems by 0.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock valued at $512,890,000 after buying an additional 137,209 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Axalta Coating Systems by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock valued at $128,852,000 after buying an additional 302,752 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Axalta Coating Systems by 19.5% during the second quarter. The Manufacturers Life Insurance Company now owns 2,914,764 shares of the specialty chemicals company’s stock valued at $99,597,000 after buying an additional 475,493 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Axalta Coating Systems by 89.7% during the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock valued at $93,411,000 after acquiring an additional 1,292,434 shares during the period. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AXTA shares. KeyCorp upped their price objective on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Mizuho upped their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Robert W. Baird raised their price objective on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada boosted their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Barclays boosted their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.70.

Axalta Coating Systems Stock Down 1.3 %

Shares of NYSE AXTA traded down $0.51 during trading on Tuesday, reaching $39.68. The company had a trading volume of 146,019 shares, compared to its average volume of 2,023,324. The business’s 50-day moving average is $36.38 and its 200 day moving average is $35.45. 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 stock has a market cap of $8.65 billion, a PE ratio of 27.16, a P/E/G ratio of 0.86 and a beta of 1.43. Axalta Coating Systems Ltd. has a 12-month low of $29.46 and a 12-month high of $40.38.

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

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.