Millburn Ridgefield Corp Purchases New Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Millburn Ridgefield Corp purchased a new stake in Axalta Coating Systems Ltd. (NYSE:AXTA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,125 shares of the specialty chemicals company’s stock, valued at approximately $41,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Federated Hermes Inc. lifted its holdings in shares of Axalta Coating Systems by 3.0% during the 2nd quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock worth $30,623,000 after acquiring an additional 25,717 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Axalta Coating Systems by 68.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 36,191 shares of the specialty chemicals company’s stock worth $1,310,000 after acquiring an additional 14,704 shares during the period. AQR Capital Management LLC lifted its stake in Axalta Coating Systems by 126.7% in 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 last quarter. Dimensional Fund Advisors LP lifted its stake in Axalta Coating Systems by 8.7% in 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 in the 2nd quarter valued at approximately $541,000. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Trading Up 0.6 %

NYSE:AXTA opened at $40.57 on Thursday. Axalta Coating Systems Ltd. has a 12 month low of $30.40 and a 12 month high of $41.65. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 0.87 and a beta of 1.44. The firm has a fifty day simple moving average of $38.02 and a two-hundred day simple moving average of $36.08. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80.

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BMO Capital Markets increased their price objective on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. Barclays increased their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. KeyCorp increased their price objective on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Mizuho increased their price objective on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $42.45.

Axalta Coating Systems Profile

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.