Shapiro Capital Management LLC Sells 678,056 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Shapiro Capital Management LLC trimmed its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 24.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,134,559 shares of the specialty chemicals company’s stock after selling 678,056 shares during the quarter. Axalta Coating Systems makes up approximately 2.5% of Shapiro Capital Management LLC’s holdings, making the stock its 22nd largest position. Shapiro Capital Management LLC owned 0.98% of Axalta Coating Systems worth $73,045,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Jones Financial Companies Lllp boosted its position in shares of Axalta Coating Systems by 60.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 498 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Axalta Coating Systems by 35.4% in the 4th quarter. UMB Bank n.a. now owns 2,093 shares of the specialty chemicals company’s stock worth $72,000 after purchasing an additional 547 shares in the last quarter. Plato Investment Management Ltd boosted its position in shares of Axalta Coating Systems by 156.4% in the 4th quarter. Plato Investment Management Ltd now owns 2,238 shares of the specialty chemicals company’s stock worth $77,000 after purchasing an additional 1,365 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Axalta Coating Systems by 31.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,581 shares of the specialty chemicals company’s stock worth $88,000 after purchasing an additional 617 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of Axalta Coating Systems by 54.7% in the 4th quarter. Headlands Technologies LLC now owns 3,270 shares of the specialty chemicals company’s stock worth $112,000 after purchasing an additional 1,156 shares in the last quarter. 98.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut Axalta Coating Systems from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $42.00 to $32.00 in a research report on Thursday, May 8th. Barclays dropped their price target on Axalta Coating Systems from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of Axalta Coating Systems from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Mizuho set a $37.00 price objective on shares of Axalta Coating Systems in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group decreased their price objective on shares of Axalta Coating Systems from $46.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.38.

Axalta Coating Systems Price Performance

Shares of AXTA opened at $32.36 on Friday. The firm has a market cap of $7.07 billion, a PE ratio of 18.18, a P/E/G ratio of 0.92 and a beta of 1.35. 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 fifty day simple moving average of $32.33 and a two-hundred day simple moving average of $35.48. Axalta Coating Systems Ltd. has a 1-year low of $27.70 and a 1-year high of $41.66.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. Axalta Coating Systems’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 earnings per share. On average, equities analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 EPS for the current year.

Axalta Coating Systems Company Profile

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.