Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Bought by Magnetar Financial LLC

Magnetar Financial LLC boosted its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 4.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 88,377 shares of the specialty chemicals company’s stock after acquiring an additional 4,131 shares during the quarter. Magnetar Financial LLC’s holdings in Axalta Coating Systems were worth $3,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its holdings in shares of Axalta Coating Systems by 35.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 266 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Axalta Coating Systems by 1.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,951 shares of the specialty chemicals company’s stock valued at $820,000 after buying an additional 323 shares during the period. Principal Securities Inc. lifted its holdings in shares of Axalta Coating Systems by 5.5% in the 4th quarter. Principal Securities Inc. now owns 6,378 shares of the specialty chemicals company’s stock valued at $218,000 after buying an additional 332 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Axalta Coating Systems by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 6,744 shares of the specialty chemicals company’s stock valued at $231,000 after buying an additional 334 shares during the period. Finally, Optas LLC lifted its holdings in shares of Axalta Coating Systems by 7.3% in the 4th quarter. Optas LLC now owns 6,024 shares of the specialty chemicals company’s stock valued at $206,000 after buying an additional 412 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Price Performance

NYSE:AXTA opened at $34.05 on Friday. Axalta Coating Systems Ltd. has a 12 month low of $30.41 and a 12 month high of $41.66. The stock has a 50 day moving average of $35.98 and a two-hundred day moving average of $36.60. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74. The firm has a market cap of $7.43 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 0.92 and a beta of 1.45.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.51 by $0.09. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The company 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. Axalta Coating Systems’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wolfe Research raised 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. Citigroup cut Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $41.00 in a report on Wednesday, December 18th. StockNews.com cut Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Barclays upped their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Mizuho reduced their price target on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Axalta Coating Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.08.

Insider Activity

In other news, insider Troy D. Weaver sold 10,457 shares of the company’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 sale, the insider now directly owns 74,905 shares in the company, valued at $2,814,180.85. This 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 is available at this link. Company insiders own 0.40% of the company’s stock.

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.