SeaBridge Investment Advisors LLC Acquires 7,135 Shares of Axalta Coating Systems Ltd (AXTA)
SeaBridge Investment Advisors LLC increased its holdings in shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) by 7.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,320 shares of the specialty chemicals company’s stock after purchasing an additional 7,135 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Axalta Coating Systems were worth $3,133,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rockefeller Financial Services Inc. acquired a new position in Axalta Coating Systems during the third quarter worth $215,000. Ingalls & Snyder LLC acquired a new position in Axalta Coating Systems during the third quarter worth $634,000. Diamond Hill Capital Management Inc. boosted its holdings in Axalta Coating Systems by 3.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 10,292,166 shares of the specialty chemicals company’s stock worth $297,649,000 after purchasing an additional 308,016 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. boosted its holdings in Axalta Coating Systems by 30.7% during the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 78,518 shares of the specialty chemicals company’s stock worth $2,304,000 after purchasing an additional 18,460 shares during the last quarter. Finally, Norman Fields Gottscho Capital Management LLC boosted its holdings in Axalta Coating Systems by 0.7% during the third quarter. Norman Fields Gottscho Capital Management LLC now owns 244,320 shares of the specialty chemicals company’s stock worth $7,066,000 after purchasing an additional 1,735 shares during the last quarter.
Axalta Coating Systems Ltd (NASDAQ AXTA) traded up 0.48% during mid-day trading on Monday, hitting $29.45. 520,254 shares of the stock traded hands. Axalta Coating Systems Ltd has a 1-year low of $24.27 and a 1-year high of $34.10. The company has a 50-day moving average of $29.06 and a 200 day moving average of $30.86. The firm has a market capitalization of $7.16 billion and a P/E ratio of 2945.00.
Axalta Coating Systems (NASDAQ:AXTA) last posted its quarterly earnings data on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. Axalta Coating Systems’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS. On average, equities research analysts anticipate that Axalta Coating Systems Ltd will post $1.13 EPS for the current year.
In other Axalta Coating Systems news, SVP Michael A. Cash sold 34,874 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $30.00, for a total value of $1,046,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven R. Markevich sold 900 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $29.42, for a total value of $26,478.00. Following the completion of the transaction, the executive vice president now owns 201,393 shares of the company’s stock, valued at approximately $5,924,982.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,774 shares of company stock valued at $5,771,898.
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Several research analysts recently commented on AXTA shares. Royal Bank Of Canada restated a “buy” rating and set a $34.00 target price on shares of Axalta Coating Systems in a report on Wednesday, August 9th. BidaskClub upgraded shares of Axalta Coating Systems from a “strong sell” rating to a “sell” rating in a report on Friday, October 6th. Susquehanna Bancshares Inc started coverage on shares of Axalta Coating Systems in a report on Tuesday, July 18th. They set a “neutral” rating and a $37.00 target price for the company. Instinet restated a “neutral” rating and set a $28.00 target price (down previously from $30.00) on shares of Axalta Coating Systems in a report on Friday, October 13th. Finally, Barclays PLC restated an “equal weight” rating and set a $33.00 target price (down previously from $34.00) on shares of Axalta Coating Systems in a report on Friday, August 4th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.14.
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.
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