Axalta Coating Systems Ltd (NASDAQ:AXTA) Shares Sold by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD reduced its stake in Axalta Coating Systems Ltd (NASDAQ:AXTA) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,517 shares of the specialty chemicals company’s stock after selling 121 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Axalta Coating Systems were worth $497,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE increased its position in Axalta Coating Systems by 0.5% in the first quarter. US Bancorp DE now owns 14,234 shares of the specialty chemicals company’s stock valued at $458,000 after buying an additional 74 shares during the period. Creative Planning increased its position in Axalta Coating Systems by 0.9% in the first quarter. Creative Planning now owns 9,684 shares of the specialty chemicals company’s stock valued at $312,000 after buying an additional 89 shares during the period. ProShare Advisors LLC increased its position in Axalta Coating Systems by 0.9% in the first quarter. ProShare Advisors LLC now owns 16,703 shares of the specialty chemicals company’s stock valued at $538,000 after buying an additional 157 shares during the period. Aristotle Capital Management LLC increased its position in Axalta Coating Systems by 0.3% in the first quarter. Aristotle Capital Management LLC now owns 70,900 shares of the specialty chemicals company’s stock valued at $2,283,000 after buying an additional 180 shares during the period. Finally, HighTower Advisors LLC increased its position in Axalta Coating Systems by 1.4% in the first quarter. HighTower Advisors LLC now owns 15,520 shares of the specialty chemicals company’s stock valued at $499,000 after buying an additional 209 shares during the period.

Axalta Coating Systems Ltd (AXTA) opened at 28.18 on Friday. The firm’s 50-day moving average is $31.70 and its 200-day moving average is $31.25. Axalta Coating Systems Ltd has a 52-week low of $24.27 and a 52-week high of $34.10. The company has a market cap of $6.85 billion and a PE ratio of 2818.00.

Axalta Coating Systems (NASDAQ:AXTA) last announced its quarterly earnings data on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share 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 analysts’ expectations of $1.12 billion. Axalta Coating Systems had a net margin of 6.50% and a return on equity of 21.46%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. On average, equities research analysts anticipate that Axalta Coating Systems Ltd will post $1.31 EPS for the current year.

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Several research firms have recently commented on AXTA. BidaskClub downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Instinet downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a report on Friday, April 21st. UBS Group AG reissued a “buy” rating and issued a $39.00 target price (up previously from $37.00) on shares of Axalta Coating Systems in a report on Tuesday, June 6th. Citigroup Inc. decreased their price target on shares of Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Zacks Investment Research downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Axalta Coating Systems has an average rating of “Hold” and a consensus target price of $33.80.

In other Axalta Coating Systems news, CEO Charles W. Shaver sold 179,487 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $31.32, for a total value of $5,621,532.84. Following the transaction, the chief executive officer now owns 528,907 shares in the company, valued at approximately $16,565,367.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sean M. Lannon sold 4,340 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $31.35, for a total value of $136,059.00. Following the completion of the transaction, the vice president now owns 4,088 shares in the company, valued at approximately $128,158.80. The disclosure for this sale can be found here. Insiders sold a total of 438,289 shares of company stock worth $13,876,363 in the last 90 days.

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. 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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Institutional Ownership by Quarter for Axalta Coating Systems (NASDAQ:AXTA)

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