Wellington Management Group LLP Sells 240,380 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Wellington Management Group LLP trimmed its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,515,972 shares of the specialty chemicals company’s stock after selling 240,380 shares during the quarter. Wellington Management Group LLP owned 2.99% of Axalta Coating Systems worth $235,813,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd increased its position in shares of Axalta Coating Systems by 68.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 36,191 shares of the specialty chemicals company’s stock valued at $1,310,000 after acquiring an additional 14,704 shares during the period. Federated Hermes Inc. grew its stake in shares of Axalta Coating Systems by 3.0% in the second quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock worth $30,623,000 after purchasing an additional 25,717 shares during the last quarter. AQR Capital Management LLC increased its holdings in Axalta Coating Systems by 126.7% during the 2nd quarter. AQR Capital Management LLC now owns 794,454 shares of the specialty chemicals company’s stock valued at $26,817,000 after purchasing an additional 443,946 shares during the period. Dimensional Fund Advisors LP raised its position in Axalta Coating Systems by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock valued at $128,852,000 after purchasing an additional 302,752 shares during the last quarter. Finally, Savant Capital LLC bought a new position in Axalta Coating Systems during the 2nd quarter valued at approximately $541,000. 98.28% of the stock is currently owned by institutional investors.

Axalta Coating Systems Price Performance

Shares of AXTA opened at $39.92 on Monday. Axalta Coating Systems Ltd. has a fifty-two week low of $30.40 and a fifty-two week high of $41.65. The firm’s 50-day simple moving average is $38.13 and its two-hundred day simple moving average is $36.15. The stock has a market cap of $8.71 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. Analysts anticipate that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AXTA. Royal Bank of Canada lifted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays raised their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Evercore ISI began coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 price objective on the stock. BMO Capital Markets raised their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, KeyCorp boosted their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $42.45.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through two segments, Performance Coatings and Mobility Coatings.