Asset Management Advisors Lowers stake in Axalta Coating Systems Ltd (AXTA)

Axalta Coating Systems Ltd (AXTA) : Asset Management Advisors reduced its stake in Axalta Coating Systems Ltd by 15.44% during the most recent quarter end. The investment management company now holds a total of 121,055 shares of Axalta Coating Systems Ltd which is valued at $3,389,540 after selling 22,100 shares in Axalta Coating Systems Ltd , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Axalta Coating Systems Ltd makes up approximately 3.14% of Asset Management Advisors’s portfolio.

Other Hedge Funds, Including , Mrj Capital Inc added AXTA to its portfolio by purchasing 121,200 company shares during the most recent quarter which is valued at $3,393,600. Axalta Coating Systems Ltd makes up approx 2.22% of Mrj Capital Inc’s portfolio.Blackrock Advisors boosted its stake in AXTA in the latest quarter, The investment management firm added 2,170,700 additional shares and now holds a total of 5,678,452 shares of Axalta Coating Systems Ltd which is valued at $158,996,656. Axalta Coating Systems Ltd makes up approx 0.17% of Blackrock Advisors’s portfolio.Jennison Associates reduced its stake in AXTA by selling 146,123 shares or 3.03% in the most recent quarter. The Hedge Fund company now holds 4,680,044 shares of AXTA which is valued at $131,883,640. Axalta Coating Systems Ltd makes up approx 0.14% of Jennison Associates’s portfolio.Ibm Retirement Fund boosted its stake in AXTA in the latest quarter, The investment management firm added 6,411 additional shares and now holds a total of 16,633 shares of Axalta Coating Systems Ltd which is valued at $471,379. Axalta Coating Systems Ltd makes up approx 0.02% of Ibm Retirement Fund’s portfolio.

Axalta Coating Systems Ltd opened for trading at $28.29 and hit $28.49 on the upside on Tuesday, eventually ending the session at $28.35, with a gain of 0.82% or 0.23 points. The heightened volatility saw the trading volume jump to 21,39,900 shares. Company has a market cap of $6,779 M.

On the company’s financial health, Axalta Coating Systems Ltd reported $0.34 EPS for the quarter, based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus estimate of $0.34. The company had revenue of $1072.10 million for the quarter, compared to analysts expectations of $1065.35 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on Axalta Coating Systems Ltd. Company shares were Upgraded by Seaport Global Securities on Jul 27, 2016 to ” Buy”, Firm has raised the Price Target to $ 36 from a previous price target of $34 .Axalta Coating Systems Ltd was Resumed by Credit Suisse to “Outperform” on Jun 27, 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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