Massachusetts Financial Services Co. MA Lowers Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,977,852 shares of the specialty chemicals company’s stock after selling 359,185 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.74% of Axalta Coating Systems worth $216,338,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Plato Investment Management Ltd purchased a new position in Axalta Coating Systems in the 2nd quarter worth approximately $30,000. First Horizon Advisors Inc. lifted its holdings in shares of Axalta Coating Systems by 35.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 266 shares during the last quarter. GAMMA Investing LLC grew its position in Axalta Coating Systems by 111.5% in the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after acquiring an additional 747 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Axalta Coating Systems in the third quarter valued at $54,000. Finally, UMB Bank n.a. raised its position in 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 valued at $56,000 after purchasing an additional 733 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors.

Axalta Coating Systems Stock Up 1.9 %

NYSE AXTA opened at $40.52 on Friday. The business’s 50-day moving average is $37.30 and its 200 day moving average is $35.82. The stock has a market capitalization of $8.84 billion, a PE ratio of 27.38, a PEG ratio of 0.83 and a beta of 1.43. 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 $40.91.

Axalta Coating Systems (NYSE:AXTA) last posted its 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 analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AXTA shares. Evercore ISI assumed coverage on Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. KeyCorp increased their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Barclays boosted their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets lifted their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Mizuho upped their price target 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 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $42.45.

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.