Aigen Investment Management LP lowered its position in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 53.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,253 shares of the specialty chemicals company's stock after selling 10,746 shares during the quarter. Aigen Investment Management LP's holdings in Axalta Coating Systems were worth $317,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Eagle Bay Advisors LLC grew its holdings in shares of Axalta Coating Systems by 116.3% in the fourth quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 443 shares during the period. True Wealth Design LLC purchased a new position in Axalta Coating Systems during the third quarter worth about $37,000. First Horizon Advisors Inc. boosted its stake 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 worth $37,000 after buying an additional 266 shares during the period. Millburn Ridgefield Corp purchased a new position in Axalta Coating Systems during the third quarter worth about $41,000. Finally, Jones Financial Companies Lllp boosted its stake in Axalta Coating Systems by 60.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 498 shares during the period. Hedge funds and other institutional investors own 98.28% of the company's stock.
NYSE:AXTA traded down $0.45 during mid-day trading on Friday, hitting $34.97. The stock had a trading volume of 1,873,191 shares, compared to its average volume of 1,959,043. The stock has a 50-day simple moving average of $35.98 and a two-hundred day simple moving average of $36.70. The company has a market capitalization of $7.63 billion, a PE ratio of 19.64, a PEG ratio of 0.92 and a beta of 1.45. Axalta Coating Systems Ltd. has a twelve month low of $30.41 and a twelve month high of $41.65. 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 - Get Free Report) last issued its earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.09. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.31 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 earnings per share. On average, equities research analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.
In other Axalta Coating Systems news, insider Troy D. Weaver sold 10,457 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $37.57, for a total transaction of $392,869.49. Following the sale, the insider now owns 74,905 shares of the company's stock, valued at approximately $2,814,180.85. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by corporate insiders.
Several research analysts have weighed in on the stock. Wolfe Research raised shares of Axalta Coating Systems from a "peer perform" rating to an "outperform" rating and set a $41.00 target price for the company in a research note on Friday, January 17th. 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 for the company. Barclays increased their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. KeyCorp reissued a "sector weight" rating on shares of Axalta Coating Systems in a research report on Tuesday, December 17th. Finally, Mizuho reduced their price target on shares of Axalta Coating Systems from $43.00 to $41.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.08.
Read Our Latest Stock Analysis on 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.
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