Rivulet Capital Lowers stake in Axalta Coating Systems Ltd (AXTA)

Axalta Coating Systems Ltd (AXTA) : Rivulet Capital reduced its stake in Axalta Coating Systems Ltd by 2.86% during the most recent quarter end. The investment management company now holds a total of 1,226,600 shares of Axalta Coating Systems Ltd which is valued at $34.4 Million after selling 36,100 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 10.59% of Rivulet Capital’s portfolio.

Other Hedge Funds, Including , Meritage Group Lp reduced its stake in AXTA by selling 4,118,709 shares or 37.83% in the most recent quarter. The Hedge Fund company now holds 6,769,299 shares of AXTA which is valued at $189.7 Million. Axalta Coating Systems Ltd makes up approx 5.31% of Meritage Group Lp’s portfolio.Diamond Hill Capital Management Inc boosted its stake in AXTA in the latest quarter, The investment management firm added 747,554 additional shares and now holds a total of 1,832,350 shares of Axalta Coating Systems Ltd which is valued at $51.4 Million. Axalta Coating Systems Ltd makes up approx 0.33% of Diamond Hill Capital Management Inc’s portfolio.Teacher Retirement System Of Texas reduced its stake in AXTA by selling 436,043 shares or 52.13% in the most recent quarter. The Hedge Fund company now holds 400,431 shares of AXTA which is valued at $11.2 Million. Axalta Coating Systems Ltd makes up approx 0.08% of Teacher Retirement System Of Texas’s portfolio.Palisade Capital Managementnj reduced its stake in AXTA by selling 37,416 shares or 17.65% in the most recent quarter. The Hedge Fund company now holds 174,560 shares of AXTA which is valued at $4.9 Million. Axalta Coating Systems Ltd makes up approx 0.19% of Palisade Capital Managementnj’s portfolio.Proshare Advisors reduced its stake in AXTA by selling 135 shares or 1.18% in the most recent quarter. The Hedge Fund company now holds 11,338 shares of AXTA which is valued at $320,072.

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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