Maverick Capital Ltd. Acquires 5,374 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Maverick Capital Ltd. increased its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 15.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,552 shares of the specialty chemicals company’s stock after acquiring an additional 5,374 shares during the quarter. Maverick Capital Ltd.’s holdings in Axalta Coating Systems were worth $1,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Axalta Coating Systems by 0.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock worth $512,890,000 after purchasing an additional 137,209 shares during the period. Victory Capital Management Inc. lifted its holdings in Axalta Coating Systems by 5.6% in the second quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock worth $355,479,000 after buying an additional 550,970 shares during the period. Dimensional Fund Advisors LP boosted its position in Axalta Coating Systems by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock valued at $128,852,000 after acquiring an additional 302,752 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Axalta Coating Systems by 19.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,914,764 shares of the specialty chemicals company’s stock worth $99,597,000 after acquiring an additional 475,493 shares during the period. Finally, Millennium Management LLC raised its position in shares of Axalta Coating Systems by 89.7% in the 2nd quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock worth $93,411,000 after acquiring an additional 1,292,434 shares in the last quarter. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Price Performance

Shares of AXTA opened at $40.46 on Friday. Axalta Coating Systems Ltd. has a twelve month low of $30.40 and a twelve month high of $41.65. The company has a market capitalization of $8.82 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. The firm has a 50 day moving average of $37.77 and a 200 day moving average of $35.97. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80.

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

Analyst Ratings Changes

AXTA has been the topic of several research reports. Royal Bank of Canada lifted their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. KeyCorp upped their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price target on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Evercore ISI initiated coverage on shares of Axalta Coating Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $47.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $42.45.

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.