Parametric Portfolio Associates LLC Has $1.59 Million Holdings in Axalta Coating Systems Ltd (AXTA)

Parametric Portfolio Associates LLC lowered its stake in shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) by 63.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 49,748 shares of the specialty chemicals company’s stock after selling 85,003 shares during the period. Parametric Portfolio Associates LLC’s holdings in Axalta Coating Systems were worth $1,594,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Axalta Coating Systems by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 18,161,002 shares of the specialty chemicals company’s stock valued at $581,878,000 after purchasing an additional 660,223 shares during the last quarter. Davis Selected Advisers boosted its stake in Axalta Coating Systems by 7.9% during the 2nd quarter. Davis Selected Advisers now owns 7,228,390 shares of the specialty chemicals company’s stock valued at $231,598,000 after purchasing an additional 528,794 shares during the last quarter. FMR LLC boosted its stake in Axalta Coating Systems by 11.4% during the 2nd quarter. FMR LLC now owns 3,544,159 shares of the specialty chemicals company’s stock valued at $113,555,000 after purchasing an additional 362,569 shares during the last quarter. Bessemer Group Inc. boosted its stake in Axalta Coating Systems by 554,273.3% during the 2nd quarter. Bessemer Group Inc. now owns 2,760,779 shares of the specialty chemicals company’s stock valued at $88,456,000 after purchasing an additional 2,760,281 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Axalta Coating Systems by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 2,287,136 shares of the specialty chemicals company’s stock valued at $73,280,000 after purchasing an additional 7,539 shares during the last quarter.

Shares of Axalta Coating Systems Ltd (AXTA) opened at $31.98 on Monday. Axalta Coating Systems Ltd has a 1-year low of $24.72 and a 1-year high of $34.47.

Axalta Coating Systems (NASDAQ:AXTA) last issued its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.chaffeybreeze.com/2017/11/13/parametric-portfolio-associates-llc-has-1-59-million-holdings-in-axalta-coating-systems-ltd-axta.html.

In other Axalta Coating Systems news, EVP Steven R. Markevich sold 160,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $29.37, for a total transaction of $4,699,200.00. Following the sale, the executive vice president now owns 280,377 shares of the company’s stock, valued at approximately $8,234,672.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael A. Cash sold 34,874 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $30.00, for a total transaction of $1,046,220.00. The disclosure for this sale can be found here. Insiders have sold a total of 195,774 shares of company stock worth $5,771,898 in the last three months.

Several research firms have commented on AXTA. BidaskClub cut shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. KeyCorp reissued a “buy” rating and set a $36.00 target price on shares of Axalta Coating Systems in a research report on Thursday, October 12th. Credit Suisse Group lifted their target price on shares of Axalta Coating Systems from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Citigroup Inc. cut shares of Axalta Coating Systems from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $31.00 to $25.00 in a research report on Tuesday, October 10th. Finally, UBS AG dropped their target price on shares of Axalta Coating Systems from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. Axalta Coating Systems has an average rating of “Hold” and a consensus price target of $33.87.

Axalta Coating Systems 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.

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

Receive News & Ratings for Axalta Coating Systems Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply