Quantinno Capital Management LP Acquires 63,874 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Quantinno Capital Management LP grew its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 61.7% in the third quarter, HoldingsChannel reports. The fund owned 167,452 shares of the specialty chemicals company’s stock after purchasing an additional 63,874 shares during the quarter. Quantinno Capital Management LP’s holdings in Axalta Coating Systems were worth $6,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd grew its position in shares of Axalta Coating Systems by 68.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 36,191 shares of the specialty chemicals company’s stock valued at $1,310,000 after acquiring an additional 14,704 shares during the period. Federated Hermes Inc. boosted its holdings in Axalta Coating Systems by 3.0% in the 2nd quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock worth $30,623,000 after buying an additional 25,717 shares during the period. AQR Capital Management LLC boosted its holdings in Axalta Coating Systems by 126.7% in the 2nd quarter. AQR Capital Management LLC now owns 794,454 shares of the specialty chemicals company’s stock worth $26,817,000 after buying an additional 443,946 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Axalta Coating Systems by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock worth $128,852,000 after buying an additional 302,752 shares during the period. Finally, Savant Capital LLC bought a new position in Axalta Coating Systems in the 2nd quarter worth $541,000. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Stock Performance

Axalta Coating Systems stock opened at $39.92 on Friday. 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 1-year low of $30.40 and a 1-year high of $41.65. The firm has a market capitalization of $8.70 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44. The company’s 50-day moving average is $38.07 and its 200 day moving average is $36.11.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS. Research analysts forecast that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on AXTA. Royal Bank of Canada increased 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. BMO Capital Markets increased their price objective on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Evercore ISI began coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 price objective for the company. 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 report on Friday, November 1st. Finally, Mizuho upped their target price 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. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $42.45.

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.