Rivulet Capital LLC Has $40.08 Million Stake in Axalta Coating Systems Ltd (AXTA)

Rivulet Capital LLC cut its stake in Axalta Coating Systems Ltd (NASDAQ:AXTA) by 28.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,244,669 shares of the specialty chemicals company’s stock after selling 485,933 shares during the period. Axalta Coating Systems accounts for 7.5% of Rivulet Capital LLC’s portfolio, making the stock its 8th largest position. Rivulet Capital LLC’s holdings in Axalta Coating Systems were worth $40,078,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. boosted its stake in Axalta Coating Systems by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,772 shares of the specialty chemicals company’s stock valued at $174,000 after buying an additional 294 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Axalta Coating Systems by 16.7% in the first quarter. Daiwa Securities Group Inc. now owns 6,300 shares of the specialty chemicals company’s stock valued at $203,000 after buying an additional 900 shares during the period. Prudential Financial Inc. acquired a new position in Axalta Coating Systems during the first quarter valued at approximately $210,000. Comerica Bank acquired a new position in Axalta Coating Systems during the fourth quarter valued at approximately $218,000. Finally, S&CO Inc. acquired a new position in Axalta Coating Systems during the first quarter valued at approximately $232,000.

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

Axalta Coating Systems Ltd (AXTA) traded down 0.21% on Tuesday, hitting $33.54. 631,391 shares of the stock were exchanged. 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 cap of $8.12 billion and a PE ratio of 111.06. The stock’s 50 day moving average price is $32.05 and its 200 day moving average price is $30.13.

Axalta Coating Systems (NASDAQ:AXTA) last posted its quarterly earnings data on Wednesday, April 26th. The specialty chemicals company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $994.43 million. Axalta Coating Systems had a return on equity of 21.46% and a net margin of 6.50%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. Equities research analysts forecast that Axalta Coating Systems Ltd will post $1.37 earnings per share for the current year.

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AXTA has been the topic of a number of recent analyst reports. Jefferies Group LLC lifted their target price on shares of Axalta Coating Systems to $36.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Instinet reissued a “buy” rating and set a $33.00 price target on shares of Axalta Coating Systems in a research report on Tuesday, March 14th. They noted that the move was a valuation call. Royal Bank Of Canada lifted their target price on shares of Axalta Coating Systems from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, March 15th. TheStreet raised shares of Axalta Coating Systems from a “d+” rating to a “c-” rating in a report on Tuesday, March 14th. Finally, Zacks Investment Research raised shares of Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Tuesday, April 11th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Axalta Coating Systems has a consensus rating of “Hold” and a consensus target price of $33.73.

In related news, VP Sean M. Lannon sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $33.00, for a total transaction of $165,000.00. Following the sale, the vice president now directly owns 16,286 shares in the company, valued at approximately $537,438. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles W. Shaver sold 179,487 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.32, for a total value of $5,621,532.84. Following the sale, the chief executive officer now owns 528,907 shares in the company, valued at $16,565,367.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 435,489 shares of company stock worth $13,728,870.

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.

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