Atlantic Trust Group LLC reduced its holdings in Axalta Coating Systems Ltd (NASDAQ:AXTA) by 27.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,550 shares of the specialty chemicals company’s stock after selling 5,630 shares during the quarter. Atlantic Trust Group LLC’s holdings in Axalta Coating Systems were worth $466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Blue Rock Advisors LLC acquired a new position in shares of Axalta Coating Systems in the 2nd quarter worth approximately $1,596,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Axalta Coating Systems by 2.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 387,203 shares of the specialty chemicals company’s stock worth $12,406,000 after acquiring an additional 10,149 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Axalta Coating Systems by 42.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,700 shares of the specialty chemicals company’s stock worth $311,000 after acquiring an additional 2,900 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Axalta Coating Systems by 11.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 393,561 shares of the specialty chemicals company’s stock worth $12,609,000 after acquiring an additional 40,787 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Axalta Coating Systems by 3.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 50,465 shares of the specialty chemicals company’s stock worth $1,616,000 after acquiring an additional 1,772 shares in the last quarter.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.watchlistnews.com/axalta-coating-systems-ltd-axta-stake-lowered-by-atlantic-trust-group-llc/1558844.html.

Axalta Coating Systems Ltd (AXTA) opened at 29.07 on Wednesday. The firm has a market cap of $7.07 billion and a P/E ratio of 2907.00. Axalta Coating Systems Ltd has a 12-month low of $24.27 and a 12-month high of $34.10. The firm’s 50-day moving average price is $29.58 and its 200 day moving average price is $31.25.

Axalta Coating Systems (NASDAQ:AXTA) last issued its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. Axalta Coating Systems’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. Analysts forecast that Axalta Coating Systems Ltd will post $1.30 earnings per share for the current fiscal year.

In other news, CFO Robert W. Bryant sold 114,500 shares of Axalta Coating Systems stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $32.13, for a total transaction of $3,678,885.00. Following the transaction, the chief financial officer now owns 328,234 shares in the company, valued at $10,546,158.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Steven R. Markevich sold 160,000 shares of Axalta Coating Systems 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 transaction, the executive vice president now owns 280,377 shares in the company, valued at approximately $8,234,672.49. The disclosure for this sale can be found here. In the last quarter, insiders have sold 319,500 shares of company stock worth $9,828,285.

Several research analysts have recently commented on the company. BidaskClub raised Axalta Coating Systems from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Bank of America Corporation downgraded Axalta Coating Systems from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $36.00 to $30.00 in a report on Wednesday, June 21st. Susquehanna Bancshares Inc assumed coverage on Axalta Coating Systems in a report on Tuesday, July 18th. They issued a “neutral” rating and a $37.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $37.00 target price on shares of Axalta Coating Systems in a report on Friday, July 14th. Finally, UBS AG reissued a “buy” rating and issued a $39.00 target price (up from $37.00) on shares of Axalta Coating Systems in a report on Tuesday, June 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Axalta Coating Systems currently has a consensus rating of “Hold” and a consensus target price of $33.36.

About Axalta Coating Systems

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.

Want to see what other hedge funds are holding AXTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axalta Coating Systems Ltd (NASDAQ:AXTA).

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

Receive News & Ratings for Axalta Coating Systems Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems Ltd and related companies with Analyst Ratings Network's FREE daily email newsletter.