Tiger Veda Management Exits Position in Axalta Coating Systems Ltd (AXTA)

Axalta Coating Systems Ltd (AXTA) : Tiger Veda Management has sold out all of its stake in Axalta Coating Systems Ltd during the most recent quarter, according to the disclosure filed by the company on Apr 20, 2016 with the SEC. The investment management company has sold out 540,713 shares of Axalta Coating Systems Ltd which is valued at $16,134,876.

Axalta Coating Systems Ltd opened for trading at $29.6 and hit $29.96 on the upside on Friday, eventually ending the session at $29.84, with a gain of 1.05% or 0.31 points. The heightened volatility saw the trading volume jump to 12,82,363 shares. Company has a market cap of $7,111 M.

Other Hedge Funds, Including , First Quadrant L Pca added AXTA to its portfolio by purchasing 2,100 company shares during the most recent quarter which is valued at $62,664.Independent Portfolio Consultants boosted its stake in AXTA in the latest quarter, The investment management firm added 975 additional shares and now holds a total of 25,797 shares of Axalta Coating Systems Ltd which is valued at $766,171. Axalta Coating Systems Ltd makes up approx 0.21% of Independent Portfolio Consultants’s portfolio. Daiwa Sb Investments Ltd. added AXTA to its portfolio by purchasing 1,680 company shares during the most recent quarter which is valued at $49,896. Axalta Coating Systems Ltd makes up approx 0.01% of Daiwa Sb Investments Ltd.’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in AXTA in the latest quarter, The investment management firm added 5,823 additional shares and now holds a total of 45,044 shares of Axalta Coating Systems Ltd which is valued at $1,337,807. Axalta Coating Systems Ltd makes up approx 0.03% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.

On the company’s financial health, Axalta Coating Systems Ltd reported $0.24 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Feb 10, 2016. Analyst had a consensus of $0.25. The company had revenue of $1009.60 million for the quarter, compared to analysts expectations of $1012.26 million. The company’s revenue was down -7.1 % compared to the same quarter last year.

Many Wall Street Analysts have commented on Axalta Coating Systems Ltd. Axalta Coating Systems Ltd was Upgraded by Jefferies to ” Buy” on Feb 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Feb 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 32 from a previous price target of $31 .Shares were Reiterated by Deutsche Bank on Feb 11, 2016 to “Buy” and Lowered the Price Target to $ 30 from a previous price target of $33 .

Axalta Coating Systems Ltd. is a manufacturer marketer and distributor of coatings systems primarily serving the transportation industry. The Company operates in two business segments: Performance Coatings and Transportation Coatings. Through its Performance Coatings segment the Company provides liquid and powder coatings solutions to a fragmented and local customer base. Through its Transportation Coatings segment the Company provides advanced coating technologies to original equipment manufacturer (OEMs) of light and commercial vehicles. Its products are offered in four key end-markets including the refinish automotive aftermarket industrial light vehicle or automotive original equipment manufacturers (OEM) market and commercial vehicle market. The Company’s products include liquid and powder coatings for motor vehicles OEMs the motor vehicle aftermarket and general industrial applications such as coatings for heavy equipment pipes appliances and electrical insulation.

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