Stifel Financial Corp lifted its position in shares of Axalta Coating Systems Ltd (NYSE:AXTA) by 23.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,824 shares of the specialty chemicals company’s stock after purchasing an additional 52,861 shares during the quarter. Stifel Financial Corp’s holdings in Axalta Coating Systems were worth $8,283,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Axalta Coating Systems by 3.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,451,438 shares of the specialty chemicals company’s stock worth $164,361,000 after acquiring an additional 205,613 shares in the last quarter. Renaissance Technologies LLC increased its stake in Axalta Coating Systems by 73.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,691,100 shares of the specialty chemicals company’s stock worth $139,654,000 after purchasing an additional 1,986,400 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Axalta Coating Systems during the 2nd quarter worth approximately $123,812,000. Senator Investment Group LP acquired a new stake in Axalta Coating Systems during the 2nd quarter worth approximately $119,080,000. Finally, Parnassus Investments CA raised its holdings in Axalta Coating Systems by 9.6% during the 3rd quarter. Parnassus Investments CA now owns 3,354,742 shares of the specialty chemicals company’s stock worth $101,145,000 after buying an additional 295,026 shares during the period. 95.58% of the stock is currently owned by institutional investors.
Shares of AXTA opened at $29.60 on Wednesday. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 1.18 and a beta of 1.43. Axalta Coating Systems Ltd has a 12 month low of $21.58 and a 12 month high of $32.20. The firm has a fifty day simple moving average of $29.14 and a 200 day simple moving average of $28.67. The company has a current ratio of 2.35, a quick ratio of 1.77 and a debt-to-equity ratio of 2.82.
AXTA has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Axalta Coating Systems from a “neutral” rating to an “overweight” rating and upped their price target for the company from $31.00 to $33.00 in a report on Friday, October 25th. Wells Fargo & Co initiated coverage on shares of Axalta Coating Systems in a report on Tuesday, October 15th. They set a “market perform” rating and a $31.00 price objective on the stock. ValuEngine cut shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Bank of America lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research note on Friday, August 16th. Finally, Zacks Investment Research raised Axalta Coating Systems from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $32.82.
Axalta Coating Systems Company Profile
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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