Havens Advisors LLC bought a new stake in Axalta Coating Systems Ltd (NYSE:AXTA) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,000 shares of the specialty chemicals company’s stock, valued at approximately $971,000. Axalta Coating Systems makes up approximately 0.7% of Havens Advisors LLC’s portfolio, making the stock its 21st biggest holding.
Other large investors have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its holdings in Axalta Coating Systems by 927.6% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,059 shares of the specialty chemicals company’s stock worth $117,000 after purchasing an additional 3,664 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in Axalta Coating Systems by 18.1% during the second quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 703 shares in the last quarter. Advisor Group Inc. raised its holdings in Axalta Coating Systems by 217.3% during the second quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 3,837 shares in the last quarter. K2 Principal Fund L.P. acquired a new stake in Axalta Coating Systems during the second quarter worth approximately $202,000. Finally, Laurion Capital Management LP acquired a new stake in Axalta Coating Systems during the second quarter worth approximately $208,000. 99.79% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Michael F. Finn sold 3,950 shares of Axalta Coating Systems stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $32.66, for a total value of $129,007.00. Following the transaction, the senior vice president now directly owns 108,818 shares in the company, valued at approximately $3,553,995.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.
Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Axalta Coating Systems had a net margin of 1.46% and a return on equity of 19.91%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. analysts expect that Axalta Coating Systems Ltd will post 1.15 earnings per share for the current fiscal year.
AXTA has been the topic of a number of research analyst reports. BidaskClub cut shares of Axalta Coating Systems from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 17th. Citigroup raised shares of Axalta Coating Systems from a “sell” rating to a “hold” rating and set a $34.00 price objective on the stock in a report on Monday, October 30th. Credit Suisse Group raised their price objective on shares of Axalta Coating Systems from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Nomura raised shares of Axalta Coating Systems to a “buy” rating and cut their price objective for the stock from $30.00 to $28.00 in a report on Tuesday, October 10th. Finally, UBS Group cut their price objective on shares of Axalta Coating Systems from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $33.60.
Axalta Coating Systems Company 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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