Wealth Enhancement Advisory Services LLC Acquires 21,993 Shares of Axalta Coating Systems Ltd. $AXTA

Wealth Enhancement Advisory Services LLC grew its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 55.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,644 shares of the specialty chemicals company’s stock after buying an additional 21,993 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Axalta Coating Systems were worth $1,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC increased its holdings in Axalta Coating Systems by 2.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,386 shares of the specialty chemicals company’s stock valued at $427,000 after acquiring an additional 368 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Axalta Coating Systems by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the specialty chemicals company’s stock valued at $1,826,000 after purchasing an additional 400 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Axalta Coating Systems by 0.8% during the second quarter. State of Michigan Retirement System now owns 52,600 shares of the specialty chemicals company’s stock valued at $1,562,000 after purchasing an additional 400 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Axalta Coating Systems by 4.2% in the third quarter. Global Retirement Partners LLC now owns 11,478 shares of the specialty chemicals company’s stock worth $328,000 after buying an additional 464 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Axalta Coating Systems by 7.7% during the second quarter. Blue Trust Inc. now owns 7,317 shares of the specialty chemicals company’s stock valued at $217,000 after buying an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Stock Performance

Axalta Coating Systems stock opened at $33.56 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.20 and a quick ratio of 1.59. The firm has a market capitalization of $7.16 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. Axalta Coating Systems Ltd. has a 1-year low of $26.28 and a 1-year high of $38.37. The company’s 50-day moving average is $31.90 and its 200 day moving average is $30.23.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AXTA shares. Vertical Research downgraded Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Axalta Coating Systems in a research report on Wednesday, January 21st. UBS Group downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $39.00 to $35.00 in a report on Monday, January 12th. KeyCorp reaffirmed a “sector weight” rating on shares of Axalta Coating Systems in a report on Wednesday, October 29th. Finally, Wells Fargo & Company boosted their price objective on Axalta Coating Systems from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.56.

About Axalta Coating Systems

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.