Strs Ohio Sells 351,055 Shares of Axalta Coating Systems Ltd. $AXTA

Strs Ohio cut its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 98.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,217 shares of the specialty chemicals company’s stock after selling 351,055 shares during the quarter. Strs Ohio’s holdings in Axalta Coating Systems were worth $149,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Axalta Coating Systems in the second quarter valued at $37,000. IFP Advisors Inc bought a new position in shares of Axalta Coating Systems during the second quarter valued at approximately $39,000. FNY Investment Advisers LLC purchased a new position in Axalta Coating Systems during the second quarter valued at approximately $49,000. True Wealth Design LLC raised its stake in Axalta Coating Systems by 1,533.6% in the third quarter. True Wealth Design LLC now owns 1,797 shares of the specialty chemicals company’s stock worth $51,000 after buying an additional 1,687 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Axalta Coating Systems by 371.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,501 shares of the specialty chemicals company’s stock worth $104,000 after acquiring an additional 2,758 shares in the last quarter. Institutional investors own 98.28% of the company’s stock.

Analyst Upgrades and Downgrades

AXTA has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Axalta Coating Systems from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. UBS Group lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and reduced their target price for the company from $39.00 to $35.00 in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Axalta Coating Systems in a research note on Wednesday, January 21st. Vertical Research cut shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $30.00 price objective (down from $35.00) on shares of Axalta Coating Systems in a research note on Wednesday, November 19th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.56.

Axalta Coating Systems Stock Down 3.8%

AXTA opened at $32.29 on Wednesday. The company has a fifty day moving average of $32.03 and a two-hundred day moving average of $30.27. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.35 and a beta of 1.29. Axalta Coating Systems Ltd. has a fifty-two week low of $26.28 and a fifty-two week high of $38.37. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.59 and a current ratio of 2.20.

Axalta Coating Systems Company Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.