Channing Capital Management LLC Sells 4,549 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Channing Capital Management LLC reduced its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 348,111 shares of the specialty chemicals company’s stock after selling 4,549 shares during the period. Channing Capital Management LLC’s holdings in Axalta Coating Systems were worth $11,912,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Eagle Bay Advisors LLC increased its position in Axalta Coating Systems by 116.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 443 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Axalta Coating Systems by 35.2% during the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 266 shares during the period. True Wealth Design LLC acquired a new position in Axalta Coating Systems during the third quarter worth $37,000. Millburn Ridgefield Corp bought a new position in shares of Axalta Coating Systems in the third quarter valued at $41,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Axalta Coating Systems by 60.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 498 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Insider Buying and Selling at Axalta Coating Systems

In other news, insider Troy D. Weaver sold 10,457 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the completion of the transaction, the insider now directly owns 74,905 shares of the company’s stock, valued at $2,814,180.85. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.40% of the company’s stock.

Axalta Coating Systems Price Performance

Shares of NYSE:AXTA opened at $33.62 on Tuesday. Axalta Coating Systems Ltd. has a fifty-two week low of $30.41 and a fifty-two week high of $41.65. The company’s 50-day moving average is $35.97 and its 200 day moving average is $36.70. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01. The company has a market capitalization of $7.33 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 0.92 and a beta of 1.45.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. On average, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AXTA has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Mizuho lowered their price objective on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Evercore ISI began coverage on Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 target price on the stock. KeyCorp reissued a “sector weight” rating on shares of Axalta Coating Systems in a research report on Tuesday, December 17th. Finally, Barclays lifted their price objective on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.08.

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.