First New York Securities LLC NY bought a new position in shares of Axiall Corp. (NYSE:AXLL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 32,900 shares of the company’s stock, valued at approximately $1,073,000. Axiall Corp. accounts for 0.7% of First New York Securities LLC NY’s investment portfolio, making the stock its 25th largest position.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brigade Capital Management LP raised its position in Axiall Corp. by 22.6% in the first quarter. Brigade Capital Management LP now owns 1,241,772 shares of the company’s stock worth $27,120,000 after buying an additional 229,000 shares during the period. State Street Corp raised its position in Axiall Corp. by 3.8% in the first quarter. State Street Corp now owns 1,293,641 shares of the company’s stock worth $28,254,000 after buying an additional 47,196 shares during the period. Norges Bank purchased a new position in Axiall Corp. during the fourth quarter worth about $12,328,000. Loomis Sayles & Co. L P raised its position in Axiall Corp. by 2.1% in the first quarter. Loomis Sayles & Co. L P now owns 449,189 shares of the company’s stock worth $9,811,000 after buying an additional 9,111 shares during the period. Finally, Prudential Financial Inc. raised its position in Axiall Corp. by 150.9% in the first quarter. Prudential Financial Inc. now owns 155,897 shares of the company’s stock worth $3,405,000 after buying an additional 93,770 shares during the period.
Axiall Corp. (NYSE:AXLL) remained flat at $33.00 on Tuesday. The firm’s 50 day moving average price is $32.97 and its 200 day moving average price is $28.23. Axiall Corp. has a 1-year low of $9.04 and a 1-year high of $33.49.
Axiall Corp. (NYSE:AXLL) last released its earnings results on Monday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.11. The firm had revenue of $776.10 million for the quarter, compared to analyst estimates of $838 million. Axiall Corp.’s revenue was down 26.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. Equities research analysts expect that Axiall Corp. will post $0.53 EPS for the current fiscal year.
A number of research analysts have issued reports on AXLL shares. Cowen and Company reduced their target price on shares of Axiall Corp. from $29.00 to $17.00 and set a “market perform” rating on the stock in a report on Wednesday, June 1st. TheStreet upgraded shares of Axiall Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 22nd. Zacks Investment Research upgraded shares of Axiall Corp. from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a report on Friday, June 3rd. Citigroup Inc. upped their target price on shares of Axiall Corp. from $23.35 to $33.00 and gave the company a “neutral” rating in a report on Monday, June 13th. Finally, JPMorgan Chase & Co. lowered shares of Axiall Corp. from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $26.50 to $33.00 in a report on Monday, June 13th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $27.00.
Axiall Corp. Company Profile
Axiall Corporation (Axiall) is a manufacturer and international marketer of chemicals and building products. The Company operates through two segments: chlorovinyls and building products. Its products include chlorine, caustic soda, vinyl chloride monomer, siding and exterior accessories, and pipe and pipe fittings, among others.
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