Verition Fund Management LLC grew its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA – Free Report) by 49.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 975,784 shares of the specialty chemicals company’s stock after acquiring an additional 324,384 shares during the quarter. Verition Fund Management LLC’s holdings in Axalta Coating Systems were worth $31,528,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Covestor Ltd boosted its holdings in Axalta Coating Systems by 197.7% during the fourth quarter. Covestor Ltd now owns 908 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 603 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Axalta Coating Systems in the 4th quarter valued at $30,000. Los Angeles Capital Management LLC bought a new stake in Axalta Coating Systems during the 4th quarter worth about $35,000. IFP Advisors Inc lifted its position in Axalta Coating Systems by 65.9% during the 4th quarter. IFP Advisors Inc now owns 1,453 shares of the specialty chemicals company’s stock worth $47,000 after buying an additional 577 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Axalta Coating Systems by 2,174.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the specialty chemicals company’s stock worth $52,000 after buying an additional 1,544 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.
Axalta Coating Systems Stock Performance
NYSE:AXTA opened at $33.04 on Monday. The stock has a 50 day simple moving average of $29.26 and a 200 day simple moving average of $30.70. The stock has a market cap of $7.07 billion, a P/E ratio of 19.32, a PEG ratio of 1.73 and a beta of 1.25. Axalta Coating Systems Ltd. has a 1-year low of $24.94 and a 1-year high of $35.72. The company has a current ratio of 2.10, a quick ratio of 1.53 and a debt-to-equity ratio of 1.27.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Mizuho lowered their target price on Axalta Coating Systems from $39.00 to $32.00 and set an “outperform” rating on the stock in a research report on Monday, March 23rd. UBS Group boosted their target price on Axalta Coating Systems from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Royal Bank Of Canada reduced their price objective on shares of Axalta Coating Systems from $31.00 to $29.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 5th. The Goldman Sachs Group set a $36.00 price objective on shares of Axalta Coating Systems in a research report on Friday, May 1st. Finally, Citigroup started coverage on shares of Axalta Coating Systems in a research note on Thursday, June 4th. They set a “buy” rating and a $44.00 target price for the company. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.31.
Read Our Latest Stock Analysis on Axalta Coating Systems
Axalta Coating Systems Profile
Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.
Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.
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