Meritage Group Lp Lowers stake in Axalta Coating Systems Ltd (AXTA)

Axalta Coating Systems Ltd (AXTA) : Meritage Group Lp reduced its stake in Axalta Coating Systems Ltd by 37.83% during the most recent quarter end. The investment management company now holds a total of 6,769,299 shares of Axalta Coating Systems Ltd which is valued at $189.7 Million after selling 4,118,709 shares in Axalta Coating Systems Ltd , the firm said in a disclosure report filed with the SEC on May 13, 2016.Axalta Coating Systems Ltd makes up approximately 5.31% of Meritage Group Lp’s portfolio.

Other Hedge Funds, Including , Pacer Advisors added AXTA to its portfolio by purchasing 1,044 company shares during the most recent quarter which is valued at $29,263. Axalta Coating Systems Ltd makes up approx 0.01% of Pacer Advisors’s portfolio.Airain Ltd boosted its stake in AXTA in the latest quarter, The investment management firm added 12,723 additional shares and now holds a total of 20,303 shares of Axalta Coating Systems Ltd which is valued at $569,093. Axalta Coating Systems Ltd makes up approx 0.04% of Airain Ltd’s portfolio. Apertura Capital sold out all of its stake in AXTA during the most recent quarter. The investment firm sold 150,000 shares of AXTA which is valued $4.2 Million. Tocqueville Asset Management added AXTA to its portfolio by purchasing 11,500 company shares during the most recent quarter which is valued at $327,405.Russell Frank Co reduced its stake in AXTA by selling 10,460 shares or 28.19% in the most recent quarter. The Hedge Fund company now holds 26,651 shares of AXTA which is valued at $758,754.

Axalta Coating Systems Ltd closed down -0.24 points or -0.85% at $27.87 with 1,24,26,427 shares getting traded on Wednesday. Post opening the session at $28.02, the shares hit an intraday low of $27.8 and an intraday high of $28.16 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Axalta Coating Systems Ltd reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.18. The company had revenue of $955.60 million for the quarter, compared to analysts expectations of $966.34 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

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.

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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