Parallel Advisors LLC lifted its stake in Axalta Coating Systems Ltd (NYSE:AXTA) by 639.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 910 shares of the specialty chemicals company’s stock after acquiring an additional 787 shares during the quarter. Parallel Advisors LLC’s holdings in Axalta Coating Systems were worth $27,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. NEXT Financial Group Inc grew its holdings in Axalta Coating Systems by 633.3% during the second quarter. NEXT Financial Group Inc now owns 1,100 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 950 shares during the period. Hexavest Inc. bought a new position in Axalta Coating Systems during the second quarter worth about $46,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Axalta Coating Systems during the second quarter worth about $57,000. ETF Managers Group LLC grew its holdings in Axalta Coating Systems by 9.8% during the first quarter. ETF Managers Group LLC now owns 4,740 shares of the specialty chemicals company’s stock worth $120,000 after purchasing an additional 422 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new position in Axalta Coating Systems during the first quarter worth about $206,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.
In other Axalta Coating Systems news, Director Charles W. Shaver sold 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $25.24, for a total transaction of $12,620,000.00. Following the completion of the transaction, the director now directly owns 492,369 shares in the company, valued at $12,427,393.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.
Shares of NYSE AXTA traded up $1.13 during midday trading on Wednesday, reaching $28.05. The company’s stock had a trading volume of 107,478 shares, compared to its average volume of 1,869,365. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.71 and a current ratio of 2.32. Axalta Coating Systems Ltd has a fifty-two week low of $21.58 and a fifty-two week high of $32.14. The business’s 50 day moving average price is $28.92 and its two-hundred day moving average price is $27.20. The company has a market cap of $6.24 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.11 and a beta of 1.46.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Axalta Coating Systems had a net margin of 4.45% and a return on equity of 27.59%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. Sell-side analysts forecast that Axalta Coating Systems Ltd will post 1.79 earnings per share for the current fiscal year.
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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