SeaBridge Investment Advisors LLC Trims Stake in Axalta Coating Systems Ltd (NYSE:AXTA)

SeaBridge Investment Advisors LLC lowered its holdings in Axalta Coating Systems Ltd (NYSE:AXTA) by 1.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,972 shares of the specialty chemicals company’s stock after selling 727 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Axalta Coating Systems were worth $1,989,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Parallel Advisors LLC raised its position in Axalta Coating Systems by 639.8% in the second quarter. Parallel Advisors LLC now owns 910 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 787 shares during the period. NEXT Financial Group Inc raised its position in Axalta Coating Systems by 633.3% in the second quarter. NEXT Financial Group Inc now owns 1,100 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 950 shares during the period. Hexavest Inc. purchased a new stake in Axalta Coating Systems in the second quarter valued at $46,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Axalta Coating Systems in the second quarter valued at $57,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Axalta Coating Systems in the second quarter valued at $58,000. Institutional investors own 98.26% of the company’s stock.

Shares of NYSE AXTA traded up $0.19 during trading on Tuesday, reaching $28.84. The stock had a trading volume of 37,895 shares, compared to its average volume of 2,194,294. Axalta Coating Systems Ltd has a fifty-two week low of $21.58 and a fifty-two week high of $32.20. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.71 and a current ratio of 2.32. The business’s 50-day moving average price is $29.86 and its 200-day moving average price is $28.17. The company has a market cap of $6.68 billion, a P/E ratio of 22.49, a PEG ratio of 1.26 and a beta of 1.46.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. Axalta Coating Systems had a return on equity of 27.59% and a net margin of 4.45%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was down 4.5% on a year-over-year basis. Analysts forecast that Axalta Coating Systems Ltd will post 1.77 EPS for the current fiscal year.

A number of equities research analysts have commented on the company. TheStreet upgraded Axalta Coating Systems from a “c+” rating to a “b” rating in a research report on Friday, July 26th. Bank of America downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research report on Friday, August 16th. Zacks Investment Research upgraded Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Monday. Berenberg Bank started coverage on Axalta Coating Systems in a research note on Friday, July 12th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Nomura lifted their price objective on Axalta Coating Systems from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $32.00.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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

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