Glenmede Trust Co. NA Lowers Stock Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Glenmede Trust Co. NA reduced its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 754,539 shares of the specialty chemicals company’s stock after selling 3,625 shares during the period. Glenmede Trust Co. NA owned about 0.35% of Axalta Coating Systems worth $27,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Plato Investment Management Ltd acquired a new stake in Axalta Coating Systems in the 2nd quarter valued at $30,000. First Horizon Advisors Inc. lifted its holdings in Axalta Coating Systems by 35.2% during the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 266 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Axalta Coating Systems by 111.5% during the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 747 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Axalta Coating Systems in the third quarter valued at about $54,000. Finally, UMB Bank n.a. increased its stake in shares of Axalta Coating Systems by 90.2% during the third quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock worth $56,000 after purchasing an additional 733 shares in the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Axalta Coating Systems Trading Down 0.4 %

Shares of AXTA opened at $40.52 on Thursday. Axalta Coating Systems Ltd. has a 12-month low of $30.40 and a 12-month high of $41.65. The firm has a market capitalization of $8.84 billion, a P/E ratio of 27.38, a P/E/G ratio of 0.89 and a beta of 1.43. The firm has a 50-day moving average price of $37.61 and a 200 day moving average price of $35.92. 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 (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. Sell-side analysts forecast that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

AXTA has been the topic of a number of research reports. KeyCorp lifted their price objective on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Robert W. Baird boosted their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Barclays increased their price objective 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 set an “outperform” rating and a $47.00 target price on the stock. Finally, JPMorgan Chase & Co. increased 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 report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Axalta Coating Systems has an average rating of “Buy” and a consensus price target 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.