Alliancebernstein L.P. Has $10.53 Million Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Alliancebernstein L.P. grew its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,812 shares of the specialty chemicals company’s stock after buying an additional 18,867 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Axalta Coating Systems worth $10,533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AXTA. Victory Capital Management Inc. lifted its position in shares of Axalta Coating Systems by 9.6% during the fourth quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company’s stock valued at $387,439,000 after purchasing an additional 988,397 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Axalta Coating Systems by 0.4% in the 4th quarter. JPMorgan Chase & Co. now owns 11,280,882 shares of the specialty chemicals company’s stock valued at $386,032,000 after buying an additional 50,520 shares during the last quarter. State Street Corp lifted its position in shares of Axalta Coating Systems by 0.7% during the 3rd quarter. State Street Corp now owns 6,822,955 shares of the specialty chemicals company’s stock worth $246,923,000 after buying an additional 46,813 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Axalta Coating Systems by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 6,598,172 shares of the specialty chemicals company’s stock worth $225,789,000 after buying an additional 82,200 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Axalta Coating Systems by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock valued at $132,823,000 after acquiring an additional 31,894 shares in the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on AXTA shares. KeyCorp reissued a “sector weight” rating on shares of Axalta Coating Systems in a research report on Tuesday, December 17th. Mizuho reduced their price target on shares of Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Wolfe Research upgraded shares of Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a report on Friday, January 17th. StockNews.com cut shares of Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.64.

Axalta Coating Systems Trading Down 4.8 %

Shares of Axalta Coating Systems stock opened at $30.24 on Friday. The company’s 50-day moving average price is $34.63 and its 200-day moving average price is $36.20. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.92 and a beta of 1.33. Axalta Coating Systems Ltd. has a 12-month low of $27.70 and a 12-month high of $41.66. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business earned $0.43 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Troy D. Weaver sold 10,457 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $37.57, for a total value of $392,869.49. Following the transaction, the insider now owns 74,905 shares of the company’s stock, valued at $2,814,180.85. This represents a 12.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.40% of the company’s stock.

Axalta Coating Systems 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.