MARSHALL WACE ASIA Ltd Has $24.48 Million Stake in Axalta Coating Systems Ltd (AXTA)

MARSHALL WACE ASIA Ltd cut its position in Axalta Coating Systems Ltd (NYSE:AXTA) by 45.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 839,464 shares of the specialty chemicals company’s stock after selling 709,989 shares during the quarter. MARSHALL WACE ASIA Ltd’s holdings in Axalta Coating Systems were worth $24,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its holdings in Axalta Coating Systems by 31.6% in the second quarter. BNP Paribas Arbitrage SA now owns 25,598 shares of the specialty chemicals company’s stock valued at $776,000 after acquiring an additional 6,154 shares in the last quarter. Aperio Group LLC raised its holdings in Axalta Coating Systems by 11.2% in the second quarter. Aperio Group LLC now owns 42,969 shares of the specialty chemicals company’s stock valued at $1,302,000 after acquiring an additional 4,331 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Axalta Coating Systems by 7.9% in the second quarter. Wells Fargo & Company MN now owns 1,788,186 shares of the specialty chemicals company’s stock valued at $54,199,000 after acquiring an additional 131,381 shares in the last quarter. First Trust Advisors LP raised its holdings in Axalta Coating Systems by 3.0% in the second quarter. First Trust Advisors LP now owns 62,701 shares of the specialty chemicals company’s stock valued at $1,900,000 after acquiring an additional 1,834 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. raised its holdings in Axalta Coating Systems by 3.3% in the second quarter. Bbva Compass Bancshares Inc. now owns 76,249 shares of the specialty chemicals company’s stock valued at $2,312,000 after acquiring an additional 2,456 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Shares of AXTA stock traded up $0.12 during trading hours on Thursday, reaching $24.61. The stock had a trading volume of 3,726,300 shares, compared to its average volume of 2,081,083. The company has a quick ratio of 1.63, a current ratio of 2.23 and a debt-to-equity ratio of 2.86. Axalta Coating Systems Ltd has a twelve month low of $23.65 and a twelve month high of $33.30. The stock has a market cap of $5.85 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.37.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Thursday, October 25th. The specialty chemicals company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.03. Axalta Coating Systems had a net margin of 1.49% and a return on equity of 22.53%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Equities analysts forecast that Axalta Coating Systems Ltd will post 1.27 EPS for the current fiscal year.

In related news, EVP Steven R. Markevich sold 13,500 shares of the stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $29.47, for a total value of $397,845.00. Following the sale, the executive vice president now owns 177,029 shares of the company’s stock, valued at approximately $5,217,044.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven R. Markevich sold 16,197 shares of the stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $29.17, for a total transaction of $472,466.49. Following the completion of the sale, the executive vice president now directly owns 161,697 shares in the company, valued at approximately $4,716,701.49. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Several research firms recently issued reports on AXTA. ValuEngine cut shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Zacks Investment Research raised shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Seaport Global Securities raised shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Monday, October 29th. BMO Capital Markets dropped their target price on shares of Axalta Coating Systems from $34.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, October 26th. Finally, Nomura dropped their target price on shares of Axalta Coating Systems from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $31.40.

COPYRIGHT VIOLATION WARNING: “MARSHALL WACE ASIA Ltd Has $24.48 Million Stake in Axalta Coating Systems Ltd (AXTA)” was first posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.chaffeybreeze.com/2018/12/06/marshall-wace-asia-ltd-has-24-48-million-stake-in-axalta-coating-systems-ltd-axta.html.

About Axalta Coating Systems

Axalta Coating Systems Ltd. manufactures, markets, and distributes coatings systems. It operates through the following segments: Performance Coatings and Transportation Coatings. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. The Transportation Coatings segment offers advanced coatings technologies to original equipment manufacturers of light and commercial vehicles.

Featured Story: How Buying a Call Option Works

Want to see what other hedge funds are holding AXTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axalta Coating Systems Ltd (NYSE:AXTA).

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

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

Leave a Reply