Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 3.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,539 shares of the specialty chemicals company’s stock after selling 2,262 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Axalta Coating Systems were worth $2,589,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new stake in shares of Axalta Coating Systems during the second quarter valued at approximately $30,000. GAMMA Investing LLC increased its stake in Axalta Coating Systems by 111.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 747 shares during the period. Capital Performance Advisors LLP acquired a new position in Axalta Coating Systems in the 3rd quarter worth $54,000. UMB Bank n.a. boosted its position in Axalta Coating Systems by 90.2% in the 3rd quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock valued at $56,000 after buying an additional 733 shares during the last quarter. Finally, Versant Capital Management Inc acquired a new stake in shares of Axalta Coating Systems during the second quarter valued at about $71,000. 98.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on AXTA shares. Evercore ISI initiated coverage on Axalta Coating Systems in a research note on Wednesday. They issued an “outperform” rating and a $47.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Royal Bank of Canada upped their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets raised their price objective on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, KeyCorp upped their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.45.

Axalta Coating Systems Stock Up 2.5 %

Shares of Axalta Coating Systems stock opened at $40.60 on Thursday. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 0.85 and a beta of 1.43. Axalta Coating Systems Ltd. has a twelve month low of $30.40 and a twelve month high of $40.76. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. The business’s 50 day simple moving average is $36.46 and its 200-day simple moving average is $35.51.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. Equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current year.

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.