SeaBridge Investment Advisors LLC Lowers Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

SeaBridge Investment Advisors LLC decreased its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,081 shares of the specialty chemicals company’s stock after selling 677 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Axalta Coating Systems were worth $1,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. River Road Asset Management LLC raised its holdings in Axalta Coating Systems by 113.6% in the second quarter. River Road Asset Management LLC now owns 2,492,639 shares of the specialty chemicals company’s stock valued at $76,001,000 after acquiring an additional 1,325,664 shares in the last quarter. Olstein Capital Management L.P. raised its holdings in Axalta Coating Systems by 4.1% in the second quarter. Olstein Capital Management L.P. now owns 258,700 shares of the specialty chemicals company’s stock valued at $7,888,000 after acquiring an additional 10,163 shares in the last quarter. Ethic Inc. raised its holdings in Axalta Coating Systems by 83.4% in the second quarter. Ethic Inc. now owns 14,062 shares of the specialty chemicals company’s stock valued at $429,000 after acquiring an additional 6,395 shares in the last quarter. Dana Investment Advisors Inc. raised its holdings in Axalta Coating Systems by 1.3% during the second quarter. Dana Investment Advisors Inc. now owns 78,557 shares of the specialty chemicals company’s stock worth $2,395,000 after purchasing an additional 1,007 shares in the last quarter. Finally, Atria Investments LLC acquired a new stake in Axalta Coating Systems during the second quarter worth approximately $1,032,000. 95.62% of the stock is owned by institutional investors and hedge funds.

In other Axalta Coating Systems news, SVP Barry S. Snyder sold 865 shares of Axalta Coating Systems stock in a transaction on Friday, July 30th. The shares were sold at an average price of $30.14, for a total value of $26,071.10. Following the transaction, the senior vice president now owns 48,880 shares in the company, valued at approximately $1,473,243.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Axalta Coating Systems stock traded up $0.08 during mid-day trading on Wednesday, reaching $29.04. The company had a trading volume of 40,191 shares, compared to its average volume of 2,970,697. Axalta Coating Systems Ltd. has a 1 year low of $21.43 and a 1 year high of $34.20. The company has a debt-to-equity ratio of 2.48, a current ratio of 2.51 and a quick ratio of 2.00. The company has a market capitalization of $6.68 billion, a P/E ratio of 23.17, a P/E/G ratio of 0.64 and a beta of 1.45. The stock’s 50-day simple moving average is $30.06 and its 200-day simple moving average is $30.67.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Sunday, July 25th. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. Axalta Coating Systems had a net margin of 6.85% and a return on equity of 34.83%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.08 billion. On average, equities analysts forecast that Axalta Coating Systems Ltd. will post 1.9 EPS for the current fiscal year.

A number of research firms have weighed in on AXTA. Citigroup cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $39.00 to $32.00 in a report on Thursday, September 9th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Axalta Coating Systems from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, July 28th. Finally, Zacks Investment Research downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 15th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $35.89.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd. engages in the manufacture, marketing, and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment 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 (NYSE:AXTA)

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