Wedge Capital Management L L P NC Has $3.44 Million Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Wedge Capital Management L L P NC boosted its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,826 shares of the specialty chemicals company’s stock after acquiring an additional 11,346 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Axalta Coating Systems were worth $3,444,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AXTA. Victory Capital Management Inc. raised its holdings in shares of Axalta Coating Systems by 9.6% in the fourth quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company’s stock valued at $387,439,000 after purchasing an additional 988,397 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Axalta Coating Systems by 0.4% in the fourth quarter. JPMorgan Chase & Co. now owns 11,280,882 shares of the specialty chemicals company’s stock valued at $386,032,000 after acquiring an additional 50,520 shares during the period. Wellington Management Group LLP boosted its position in shares of Axalta Coating Systems by 1.3% in the fourth quarter. Wellington Management Group LLP now owns 6,598,172 shares of the specialty chemicals company’s stock valued at $225,789,000 after acquiring an additional 82,200 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Axalta Coating Systems by 54.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,587,090 shares of the specialty chemicals company’s stock valued at $191,190,000 after acquiring an additional 1,980,296 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Axalta Coating Systems by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,874,038 shares of the specialty chemicals company’s stock worth $132,568,000 after purchasing an additional 93,298 shares during the period. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Price Performance

NYSE AXTA opened at $30.93 on Tuesday. Axalta Coating Systems Ltd. has a 12 month low of $27.70 and a 12 month high of $41.66. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47. The firm has a market capitalization of $6.76 billion, a PE ratio of 17.38, a P/E/G ratio of 0.92 and a beta of 1.27. The company’s 50 day simple moving average is $31.40 and its 200 day simple moving average is $34.47.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. As a group, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AXTA. Mizuho set a $37.00 price objective on shares of Axalta Coating Systems in a research report on Tuesday, April 15th. Citigroup decreased their target price on Axalta Coating Systems from $42.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company lifted their price objective on Axalta Coating Systems from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Barclays lowered their target price on shares of Axalta Coating Systems from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. downgraded Axalta Coating Systems from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $32.00 in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Axalta Coating Systems has an average rating of “Moderate Buy” and a consensus price target of $40.38.

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.