Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 42.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,888,935 shares of the specialty chemicals company’s stock after buying an additional 864,783 shares during the period. Millennium Management LLC’s holdings in Axalta Coating Systems were worth $85,455,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new position in Axalta Coating Systems during the first quarter worth approximately $28,000. Capital Asset Advisory Services LLC acquired a new position in Axalta Coating Systems during the fourth quarter worth approximately $27,000. Elkhorn Partners Limited Partnership acquired a new position in Axalta Coating Systems during the first quarter worth approximately $30,000. Eaton Vance Management acquired a new position in Axalta Coating Systems during the first quarter worth approximately $45,000. Finally, Bessemer Group Inc. increased its position in Axalta Coating Systems by 109.1% during the first quarter. Bessemer Group Inc. now owns 2,227 shares of the specialty chemicals company’s stock worth $67,000 after purchasing an additional 1,162 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Shares of AXTA stock traded up $0.01 on Thursday, hitting $28.52. The stock had a trading volume of 163,480 shares, compared to its average volume of 2,516,619. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 79.14, a price-to-earnings-growth ratio of 0.61 and a beta of 1.46. The business has a 50 day simple moving average of $31.12. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.43 and a quick ratio of 1.94. Axalta Coating Systems Ltd. has a 52-week low of $20.25 and a 52-week high of $34.20.

Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Sunday, April 25th. The specialty chemicals company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Axalta Coating Systems had a net margin of 2.22% and a return on equity of 25.94%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. Sell-side analysts expect that Axalta Coating Systems Ltd. will post 2.05 earnings per share for the current year.

Several equities analysts recently commented on the stock. Susquehanna raised shares of Axalta Coating Systems from a “neutral” rating to a “positive” rating and set a $41.00 price target for the company in a research report on Monday, April 26th. Wells Fargo & Company increased their price objective on shares of Axalta Coating Systems from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 28th. Morgan Stanley increased their price objective on shares of Axalta Coating Systems from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 29th. Zacks Investment Research lowered shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 15th. Finally, Susquehanna Bancshares raised shares of Axalta Coating Systems to a “positive” rating and set a $41.00 price objective for the company in a research report on Monday, April 26th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Axalta Coating Systems presently has an average rating of “Buy” and a consensus target price of $35.56.

Axalta Coating Systems Company Profile

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. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent borne products and systems to repair 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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