Sagefield Capital LP Reduces Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Sagefield Capital LP lowered its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 71.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,544 shares of the specialty chemicals company’s stock after selling 26,745 shares during the quarter. Sagefield Capital LP’s holdings in Axalta Coating Systems were worth $361,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in Axalta Coating Systems by 60.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 498 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Axalta Coating Systems by 35.4% in the 4th quarter. UMB Bank n.a. now owns 2,093 shares of the specialty chemicals company’s stock worth $72,000 after buying an additional 547 shares in the last quarter. Plato Investment Management Ltd grew its position in Axalta Coating Systems by 156.4% in the fourth quarter. Plato Investment Management Ltd now owns 2,238 shares of the specialty chemicals company’s stock worth $77,000 after buying an additional 1,365 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Axalta Coating Systems by 31.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,581 shares of the specialty chemicals company’s stock worth $88,000 after acquiring an additional 617 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in Axalta Coating Systems by 54.7% in the fourth quarter. Headlands Technologies LLC now owns 3,270 shares of the specialty chemicals company’s stock valued at $112,000 after purchasing an additional 1,156 shares in the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXTA has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Axalta Coating Systems from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Morgan Stanley reduced their price objective on shares of Axalta Coating Systems from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Mizuho set a $37.00 price objective on shares of Axalta Coating Systems in a report on Tuesday, April 15th. Citigroup lowered their target price on shares of Axalta Coating Systems from $42.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Wolfe Research raised shares of Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.38.

Axalta Coating Systems Trading Up 0.8%

Shares of AXTA stock opened at $32.65 on Friday. Axalta Coating Systems Ltd. has a twelve month low of $27.70 and a twelve month high of $41.66. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.92 and a beta of 1.35. The company’s 50-day moving average price is $32.31 and its 200-day moving average price is $35.46. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts predict that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

About Axalta Coating Systems

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.