Shelton Wealth Management LLC Makes New $228,000 Investment in Axalta Coating Systems Ltd. (NYSE:AXTA)

Shelton Wealth Management LLC purchased a new stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,660 shares of the specialty chemicals company’s stock, valued at approximately $228,000.

A number of other hedge funds have also modified their holdings of the stock. Millennium Management LLC grew 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 purchasing an additional 1,292,434 shares in the last quarter. Interval Partners LP grew its stake 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 valued at $41,857,000 after buying an additional 1,074,961 shares in the last quarter. PointState Capital LP acquired a new position in Axalta Coating Systems in the third quarter worth approximately $30,257,000. The Manufacturers Life Insurance Company raised its position in Axalta Coating Systems by 19.5% during the second quarter. The Manufacturers Life Insurance Company now owns 2,914,764 shares of the specialty chemicals company’s stock valued at $99,597,000 after acquiring an additional 475,493 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Axalta Coating Systems by 126.7% during the second quarter. AQR Capital Management LLC now owns 794,454 shares of the specialty chemicals company’s stock valued at $26,817,000 after acquiring an additional 443,946 shares in the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Stock Performance

NYSE AXTA opened at $36.28 on Friday. The company’s fifty day moving average is $37.33 and its two-hundred day moving average is $36.22. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 0.68 and a beta of 1.46. 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 $30.40 and a 52-week high of $41.65.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.15 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. BMO Capital Markets raised their price target 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. Wolfe Research upgraded Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price target for the company in a research note on Friday. Royal Bank of Canada raised their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Mizuho lowered their price target on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Finally, Evercore ISI initiated coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price target on the stock. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.