Twin Tree Management LP Sells 16,732 Shares of Axalta Coating Systems Ltd (NASDAQ:AXTA)

Twin Tree Management LP cut its stake in shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) by 49.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,073 shares of the specialty chemicals company’s stock after selling 16,732 shares during the period. Twin Tree Management LP’s holdings in Axalta Coating Systems were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in Axalta Coating Systems by 4.2% during the second quarter. Wells Fargo & Company MN now owns 1,535,409 shares of the specialty chemicals company’s stock valued at $49,196,000 after purchasing an additional 61,622 shares in the last quarter. Commonwealth Bank of Australia lifted its position in Axalta Coating Systems by 18.1% during the second quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock valued at $146,000 after purchasing an additional 703 shares in the last quarter. Engineers Gate Manager LP lifted its position in Axalta Coating Systems by 46.7% during the second quarter. Engineers Gate Manager LP now owns 94,895 shares of the specialty chemicals company’s stock valued at $3,040,000 after purchasing an additional 30,208 shares in the last quarter. Tredje AP fonden lifted its position in Axalta Coating Systems by 30.5% during the second quarter. Tredje AP fonden now owns 27,420 shares of the specialty chemicals company’s stock valued at $879,000 after purchasing an additional 6,410 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in Axalta Coating Systems during the second quarter valued at $810,000.

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In related news, VP Sean M. Lannon sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $33.00, for a total transaction of $165,000.00. Following the completion of the sale, the vice president now directly owns 16,286 shares of the company’s stock, valued at approximately $537,438. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Steven R. Markevich sold 160,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $29.37, for a total transaction of $4,699,200.00. Following the sale, the executive vice president now directly owns 280,377 shares of the company’s stock, valued at $8,234,672.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 319,500 shares of company stock valued at $9,828,285.

Several brokerages have recently commented on AXTA. BidaskClub upgraded Axalta Coating Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. UBS AG reiterated a “buy” rating and issued a $39.00 target price (up from $37.00) on shares of Axalta Coating Systems in a research report on Tuesday, June 6th. Citigroup Inc. decreased their target price on Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, August 7th. Royal Bank Of Canada reiterated a “buy” rating and issued a $36.00 target price on shares of Axalta Coating Systems in a research report on Thursday, July 6th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Axalta Coating Systems in a research note on Thursday, July 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $33.36.

Axalta Coating Systems Ltd (AXTA) traded up 0.497% during mid-day trading on Friday, reaching $29.315. The company’s stock had a trading volume of 483,488 shares. The company’s 50-day moving average price is $29.39 and its 200 day moving average price is $31.20. Axalta Coating Systems Ltd has a 52 week low of $24.27 and a 52 week high of $34.10. The firm has a market capitalization of $7.13 billion and a price-to-earnings ratio of 2931.500.

Axalta Coating Systems (NASDAQ:AXTA) last released its quarterly earnings data on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.08). The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. Axalta Coating Systems’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. On average, equities analysts forecast that Axalta Coating Systems Ltd will post $1.30 earnings per share for the current fiscal year.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.

Institutional Ownership by Quarter for Axalta Coating Systems (NASDAQ:AXTA)

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