Axalta Coating Systems Ltd (NYSE:AXTA) Shares Acquired by Stifel Financial Corp
Stifel Financial Corp grew its holdings in Axalta Coating Systems Ltd (NYSE:AXTA) by 11.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 174,806 shares of the specialty chemicals company’s stock after acquiring an additional 17,715 shares during the quarter. Stifel Financial Corp owned 0.07% of Axalta Coating Systems worth $3,943,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of AXTA. Investors Research Corp increased its position in shares of Axalta Coating Systems by 100.0% during the second quarter. Investors Research Corp now owns 1,400 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 700 shares in the last quarter. Signaturefd LLC increased its position in shares of Axalta Coating Systems by 58.1% during the second quarter. Signaturefd LLC now owns 1,260 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 463 shares in the last quarter. US Bancorp DE increased its position in shares of Axalta Coating Systems by 78.5% during the first quarter. US Bancorp DE now owns 3,864 shares of the specialty chemicals company’s stock worth $66,000 after purchasing an additional 1,699 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in shares of Axalta Coating Systems during the second quarter worth approximately $101,000. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Axalta Coating Systems during the second quarter worth approximately $119,000. 93.65% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Steven R. Markevich sold 40,857 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $24.00, for a total transaction of $980,568.00. Following the transaction, the executive vice president now owns 90,883 shares of the company’s stock, valued at approximately $2,181,192. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc sold 534,959 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $22.63, for a total value of $12,106,122.17. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.02). Axalta Coating Systems had a net margin of 1.99% and a return on equity of 19.38%. The business had revenue of $652.70 million during the quarter, compared to analyst estimates of $625.17 million. During the same period last year, the company earned $0.52 EPS. The business’s revenue for the quarter was down 43.6% on a year-over-year basis. As a group, equities analysts expect that Axalta Coating Systems Ltd will post 0.82 earnings per share for the current year.
Several brokerages recently commented on AXTA. Credit Suisse Group reiterated a “buy” rating and set a $28.00 price target on shares of Axalta Coating Systems in a research report on Thursday, July 30th. Royal Bank of Canada boosted their price target on Axalta Coating Systems from $21.00 to $26.00 in a research report on Wednesday, June 17th. JPMorgan Chase & Co. upped their target price on Axalta Coating Systems from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, May 29th. They noted that the move was a valuation call. Deutsche Bank upped their target price on Axalta Coating Systems from $21.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Finally, Zacks Investment Research upgraded Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 15th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Axalta Coating Systems currently has a consensus rating of “Buy” and an average target price of $25.64.
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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