Victory Capital Management Inc. Sells 69,649 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Victory Capital Management Inc. trimmed its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,333,597 shares of the specialty chemicals company’s stock after selling 69,649 shares during the period. Victory Capital Management Inc. owned 4.74% of Axalta Coating Systems worth $373,973,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Millennium Management LLC boosted its stake in Axalta Coating Systems by 89.7% in the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock valued at $93,411,000 after acquiring an additional 1,292,434 shares during the last quarter. Interval Partners LP raised its position in shares of Axalta Coating Systems by 716.6% in the 2nd quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock worth $41,857,000 after acquiring an additional 1,074,961 shares in the last quarter. Vanguard Group Inc. boosted its stake in Axalta Coating Systems by 2.4% during the first quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after acquiring an additional 554,806 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of Axalta Coating Systems by 1,424.5% in the 1st quarter. Westwood Holdings Group Inc. now owns 545,089 shares of the specialty chemicals company’s stock worth $18,746,000 after purchasing an additional 509,333 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Axalta Coating Systems by 59.7% during the second quarter. Renaissance Technologies LLC now owns 1,329,700 shares of the specialty chemicals company’s stock valued at $45,436,000 after purchasing an additional 497,000 shares in the last quarter. Institutional investors own 98.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on AXTA shares. Barclays increased their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. KeyCorp raised their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Mizuho lifted their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.70.

Axalta Coating Systems Stock Performance

Shares of AXTA traded down $0.51 during mid-day trading on Tuesday, hitting $39.68. The stock had a trading volume of 146,019 shares, compared to its average volume of 2,023,324. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42. Axalta Coating Systems Ltd. has a 52 week low of $29.46 and a 52 week high of $40.38. The firm has a market cap of $8.65 billion, a P/E ratio of 27.16, a PEG ratio of 0.86 and a beta of 1.43. The business has a fifty day moving average price of $36.38 and a 200-day moving average price of $35.45.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business earned $0.45 EPS. Axalta Coating Systems’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts expect that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Axalta Coating Systems Company Profile

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.