California Public Employees Retirement System Has $13.20 Million Stock Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

California Public Employees Retirement System trimmed its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 385,698 shares of the specialty chemicals company’s stock after selling 45,021 shares during the quarter. California Public Employees Retirement System owned 0.18% of Axalta Coating Systems worth $13,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AXTA. Geode Capital Management LLC increased its holdings in shares of Axalta Coating Systems by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock worth $132,823,000 after buying an additional 31,894 shares in the last quarter. Oak Thistle LLC increased its holdings in Axalta Coating Systems by 434.3% during the 4th quarter. Oak Thistle LLC now owns 39,535 shares of the specialty chemicals company’s stock valued at $1,353,000 after purchasing an additional 32,135 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Axalta Coating Systems by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 445,836 shares of the specialty chemicals company’s stock valued at $16,135,000 after purchasing an additional 24,402 shares during the last quarter. American Century Companies Inc. boosted its stake in Axalta Coating Systems by 57.8% in the fourth quarter. American Century Companies Inc. now owns 356,017 shares of the specialty chemicals company’s stock worth $12,183,000 after purchasing an additional 130,427 shares in the last quarter. Finally, Principal Securities Inc. grew its holdings in shares of Axalta Coating Systems by 5.5% during the fourth quarter. Principal Securities Inc. now owns 6,378 shares of the specialty chemicals company’s stock worth $218,000 after purchasing an additional 332 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wolfe Research upgraded shares of Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research report on Friday, January 17th. Mizuho decreased 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 note on Tuesday, January 7th. Barclays raised their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Citigroup downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $41.00 in a report on Wednesday, December 18th. Finally, KeyCorp reissued a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Buying and Selling

In related news, insider Troy D. Weaver sold 10,457 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the completion of the transaction, the insider now directly owns 74,905 shares in the company, valued at approximately $2,814,180.85. The trade was a 12.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Axalta Coating Systems Stock Performance

Shares of AXTA stock opened at $29.73 on Friday. The stock has a market cap of $6.49 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 0.92 and a beta of 1.33. The stock has a 50-day moving average of $35.41 and a 200-day moving average of $36.47. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47. Axalta Coating Systems Ltd. has a one year low of $28.95 and a one year high of $41.66.

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

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.