Verition Fund Management LLC Acquires 221,943 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Verition Fund Management LLC increased its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 55.6% during the third quarter, HoldingsChannel reports. The firm owned 621,376 shares of the specialty chemicals company’s stock after buying an additional 221,943 shares during the period. Verition Fund Management LLC’s holdings in Axalta Coating Systems were worth $22,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Plato Investment Management Ltd purchased a new position in Axalta Coating Systems in the 2nd quarter worth about $30,000. First Horizon Advisors Inc. lifted its position in Axalta Coating Systems by 35.2% during the third 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 period. GAMMA Investing LLC grew its position in Axalta Coating Systems by 111.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 747 shares during the period. Capital Performance Advisors LLP purchased a new stake in Axalta Coating Systems during the 3rd quarter valued at $54,000. Finally, UMB Bank n.a. lifted its holdings in shares of Axalta Coating Systems by 90.2% during the 3rd quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock valued at $56,000 after buying an additional 733 shares during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.

Axalta Coating Systems Trading Down 0.3 %

Axalta Coating Systems stock opened at $40.53 on Friday. Axalta Coating Systems Ltd. has a 12-month low of $30.40 and a 12-month high of $41.65. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 0.87 and a beta of 1.43. The firm has a 50 day moving average of $37.68 and a 200 day moving average of $35.95. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AXTA shares. Royal Bank of Canada lifted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird upped their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Evercore ISI started coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective on the stock. Finally, BMO Capital Markets boosted their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $42.45.

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.