Teachers Retirement System of The State of Kentucky Sells 6,287 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 5.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 118,684 shares of the specialty chemicals company’s stock after selling 6,287 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Axalta Coating Systems were worth $4,295,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CWM LLC grew its holdings in shares of Axalta Coating Systems by 95.4% in the second quarter. CWM LLC now owns 6,958 shares of the specialty chemicals company’s stock worth $238,000 after purchasing an additional 3,397 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Axalta Coating Systems by 12.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,641 shares of the specialty chemicals company’s stock valued at $466,000 after buying an additional 1,500 shares during the period. Raymond James & Associates grew its stake in Axalta Coating Systems by 15.4% in the 2nd quarter. Raymond James & Associates now owns 113,441 shares of the specialty chemicals company’s stock worth $3,876,000 after acquiring an additional 15,160 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Axalta Coating Systems by 13.2% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,786,575 shares of the specialty chemicals company’s stock worth $61,047,000 after acquiring an additional 207,965 shares during the period. Finally, Leeward Investments LLC MA raised its stake in shares of Axalta Coating Systems by 1.1% during the second quarter. Leeward Investments LLC MA now owns 856,617 shares of the specialty chemicals company’s stock valued at $29,271,000 after acquiring an additional 9,040 shares in the last quarter. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Price Performance

NYSE AXTA opened at $38.23 on Friday. The firm’s fifty day simple moving average is $38.46 and its two-hundred day simple moving average is $36.28. The firm has a market capitalization of $8.34 billion, a P/E ratio of 25.83, a P/E/G ratio of 0.83 and a beta of 1.44. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. Axalta Coating Systems Ltd. has a 12-month low of $30.40 and a 12-month high of $41.65.

Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Analysts forecast that Axalta Coating Systems Ltd. will post 2.16 EPS for the current fiscal year.

Analysts Set New Price Targets

AXTA has been the topic of several research analyst reports. KeyCorp increased their price objective on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays raised their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. Finally, BMO Capital Markets raised their target price 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. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target 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.