Insider Selling: Axalta Coating Systems Ltd. (AXTA) VP Sells 9,336 Shares of Stock
Axalta Coating Systems Ltd. (NYSE:AXTA) VP Sean M. Lannon sold 9,336 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $28.07, for a total transaction of $262,061.52. Following the transaction, the vice president now owns 3,615 shares in the company, valued at $101,473.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Axalta Coating Systems Ltd. (NYSE:AXTA) opened at 28.07 on Wednesday. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 44.70 and a beta of 1.62. Axalta Coating Systems Ltd. has a 12 month low of $20.67 and a 12 month high of $30.45. The firm’s 50 day moving average is $28.10 and its 200 day moving average is $28.20.
Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Tuesday, July 26th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.01. Axalta Coating Systems had a net margin of 3.76% and a return on equity of 20.89%. The business earned $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts predict that Axalta Coating Systems Ltd. will post $1.16 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on AXTA shares. Gabelli started coverage on shares of Axalta Coating Systems in a research report on Thursday, September 1st. They set a “buy” rating and a $37.00 target price on the stock. Credit Suisse Group AG restated an “outperform” rating and set a $34.00 target price on shares of Axalta Coating Systems in a research report on Thursday, September 8th. Morgan Stanley restated a “hold” rating on shares of Axalta Coating Systems in a research report on Thursday, June 16th. Zacks Investment Research lowered shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Finally, Nomura restated a “buy” rating on shares of Axalta Coating Systems in a research report on Tuesday, July 12th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Axalta Coating Systems currently has an average rating of “Buy” and an average target price of $32.92.
Several institutional investors have recently made changes to their positions in AXTA. Iridian Asset Management LLC CT raised its position in shares of Axalta Coating Systems by 22.3% in the second quarter. Iridian Asset Management LLC CT now owns 14,428,794 shares of the company’s stock worth $382,796,000 after buying an additional 2,629,995 shares during the last quarter. Vanguard Group Inc. raised its stake in Axalta Coating Systems by 16.0% in the second quarter. Vanguard Group Inc. now owns 12,466,101 shares of the company’s stock valued at $330,726,000 after buying an additional 1,722,585 shares in the last quarter. Franklin Resources Inc. raised its stake in Axalta Coating Systems by 2.9% in the second quarter. Franklin Resources Inc. now owns 8,909,452 shares of the company’s stock valued at $236,374,000 after buying an additional 250,308 shares in the last quarter. BlackRock Advisors LLC raised its stake in Axalta Coating Systems by 61.9% in the second quarter. BlackRock Advisors LLC now owns 5,678,452 shares of the company’s stock valued at $150,650,000 after buying an additional 2,170,700 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Axalta Coating Systems during the second quarter valued at about $122,449,000. 99.27% of the stock is currently owned by institutional investors.
About Axalta Coating Systems
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. Its segments include Performance Coatings and Transportation Coatings. The Company, through its Performance Coatings segment, provides liquid and powder coatings solutions to a fragmented and local customer base.
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