Axalta Coating Systems Ltd. (AXTA) Shares Sold by Kayne Anderson Rudnick Investment Management LLC
Kayne Anderson Rudnick Investment Management LLC lessened its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 382,041 shares of the specialty chemicals company’s stock after selling 5,162 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.16% of Axalta Coating Systems worth $11,048,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. acquired a new position in Axalta Coating Systems during the 2nd quarter worth $108,000. Chicago Partners Investment Group LLC acquired a new position in Axalta Coating Systems during the 2nd quarter worth $127,000. Commonwealth Bank of Australia grew its stake in Axalta Coating Systems by 18.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 703 shares in the last quarter. Acrospire Investment Management LLC grew its stake in Axalta Coating Systems by 257.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 4,862 shares of the specialty chemicals company’s stock worth $156,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in Axalta Coating Systems by 217.3% during the 2nd quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 3,837 shares in the last quarter. Hedge funds and other institutional investors own 95.72% of the company’s stock.
Several research analysts have recently issued reports on the company. TheStreet raised Axalta Coating Systems from a “c” rating to a “b-” rating in a research report on Wednesday. BidaskClub cut Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Tuesday. Credit Suisse Group boosted their target price on Axalta Coating Systems from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, November 6th. Vertical Research raised Axalta Coating Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $29.00 to $37.00 in a report on Tuesday, October 31st. Finally, Robert W. Baird reissued a “buy” rating and issued a $35.00 target price on shares of Axalta Coating Systems in a report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $33.87.
Axalta Coating Systems Ltd. (NYSE:AXTA) traded up $0.14 on Friday, hitting $33.32. The company had a trading volume of 1,864,420 shares, compared to its average volume of 2,095,019. The firm has a market cap of $8,080.00 and a PE ratio of 28.64. The company has a current ratio of 2.11, a quick ratio of 1.50 and a debt-to-equity ratio of 2.69. Axalta Coating Systems Ltd. has a 1-year low of $24.72 and a 1-year high of $34.47.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Axalta Coating Systems had a return on equity of 19.91% and a net margin of 1.46%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. equities analysts expect that Axalta Coating Systems Ltd. will post 1.15 earnings per share for the current fiscal year.
In other Axalta Coating Systems news, EVP Steven R. Markevich sold 160,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $29.37, for a total transaction of $4,699,200.00. Following the sale, the executive vice president now owns 280,377 shares in the company, valued at approximately $8,234,672.49. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven R. Markevich sold 900 shares of the stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $29.42, for a total value of $26,478.00. Following the sale, the executive vice president now owns 201,393 shares in the company, valued at approximately $5,924,982.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,774 shares of company stock worth $5,771,898. Insiders own 2.30% of the company’s stock.
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Axalta Coating Systems Company Profile
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.
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