Corsair Capital Management L.P. trimmed its position in Axalta Coating Systems Ltd (NYSE:AXTA) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 271,986 shares of the specialty chemicals company’s stock after selling 36,875 shares during the quarter. Axalta Coating Systems makes up approximately 1.8% of Corsair Capital Management L.P.’s holdings, making the stock its 25th largest position. Corsair Capital Management L.P. owned 0.11% of Axalta Coating Systems worth $7,931,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXTA. BNP Paribas Arbitrage SA increased its holdings in shares of Axalta Coating Systems by 31.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 25,598 shares of the specialty chemicals company’s stock valued at $776,000 after acquiring an additional 6,154 shares during the last quarter. Aperio Group LLC increased its holdings in shares of Axalta Coating Systems by 11.2% in the 2nd quarter. Aperio Group LLC now owns 42,969 shares of the specialty chemicals company’s stock valued at $1,302,000 after acquiring an additional 4,331 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Axalta Coating Systems by 7.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,788,186 shares of the specialty chemicals company’s stock valued at $54,199,000 after acquiring an additional 131,381 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Axalta Coating Systems by 3.0% in the 2nd quarter. First Trust Advisors LP now owns 62,701 shares of the specialty chemicals company’s stock valued at $1,900,000 after acquiring an additional 1,834 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Axalta Coating Systems by 142.3% in the 2nd quarter. Sei Investments Co. now owns 208,025 shares of the specialty chemicals company’s stock valued at $6,305,000 after acquiring an additional 122,160 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

NYSE:AXTA opened at $24.61 on Friday. Axalta Coating Systems Ltd has a 12-month low of $23.65 and a 12-month high of $33.30. The company has a market cap of $5.85 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.33 and a beta of 1.37. The company has a quick ratio of 1.63, a current ratio of 2.23 and a debt-to-equity ratio of 2.86.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Thursday, October 25th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. Axalta Coating Systems had a return on equity of 22.53% and a net margin of 1.49%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. Equities analysts expect that Axalta Coating Systems Ltd will post 1.27 EPS for the current fiscal year.

In other Axalta Coating Systems news, EVP Steven R. Markevich sold 16,197 shares of the business’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $29.17, for a total transaction of $472,466.49. Following the completion of the transaction, the executive vice president now owns 161,697 shares in the company, valued at approximately $4,716,701.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

A number of equities research analysts have recently weighed in on AXTA shares. Zacks Investment Research downgraded Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Monday, October 1st. Citigroup lowered their price target on Axalta Coating Systems from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, October 11th. Nomura lowered their price target on Axalta Coating Systems from $34.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, October 15th. KeyCorp reduced their price objective on Axalta Coating Systems from $36.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, October 26th. Finally, Barclays reduced their price objective on Axalta Coating Systems from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.40.

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Axalta Coating Systems Profile

Axalta Coating Systems Ltd. manufactures, markets, and distributes coatings systems. It operates through the following segments: Performance Coatings and Transportation Coatings. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. The Transportation Coatings segment offers advanced coatings technologies to original equipment manufacturers of light and commercial vehicles.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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