Reinhart Partners Inc. Trims Stake in Axalta Coating Systems Ltd (NYSE:AXTA)

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Reinhart Partners Inc. trimmed its holdings in shares of Axalta Coating Systems Ltd (NYSE:AXTA) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 822,098 shares of the specialty chemicals company’s stock after selling 14,215 shares during the period. Axalta Coating Systems makes up about 2.3% of Reinhart Partners Inc.’s investment portfolio, making the stock its 15th largest position. Reinhart Partners Inc.’s holdings in Axalta Coating Systems were worth $24,786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of AXTA. Parallel Advisors LLC boosted its holdings in Axalta Coating Systems by 639.8% during the 2nd quarter. Parallel Advisors LLC now owns 910 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 787 shares during the period. NEXT Financial Group Inc raised its position in shares of Axalta Coating Systems by 633.3% in the 2nd quarter. NEXT Financial Group Inc now owns 1,100 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 950 shares in the last quarter. Hexavest Inc. bought a new position in shares of Axalta Coating Systems in the 2nd quarter worth approximately $46,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Axalta Coating Systems in the 2nd quarter worth approximately $57,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of Axalta Coating Systems in the 2nd quarter worth approximately $58,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

AXTA stock traded up $0.28 on Friday, reaching $30.23. 1,735,492 shares of the company traded hands, compared to its average volume of 2,248,702. Axalta Coating Systems Ltd has a one year low of $21.58 and a one year high of $32.20. The company has a debt-to-equity ratio of 2.82, a current ratio of 2.35 and a quick ratio of 1.77. The company has a market cap of $6.99 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.45. The firm has a fifty day simple moving average of $29.56 and a 200-day simple moving average of $28.39.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Thursday, October 24th. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.07. Axalta Coating Systems had a return on equity of 31.05% and a net margin of 6.21%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, sell-side analysts forecast that Axalta Coating Systems Ltd will post 1.82 EPS for the current year.

Several brokerages have recently issued reports on AXTA. JPMorgan Chase & Co. raised Axalta Coating Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $31.00 to $33.00 in a research report on Friday, October 25th. Wells Fargo & Co began coverage on Axalta Coating Systems in a research report on Tuesday, October 15th. They set a “market perform” rating and a $31.00 price objective for the company. ValuEngine lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. TheStreet raised Axalta Coating Systems from a “c+” rating to a “b” rating in a research report on Friday, July 26th. Finally, Robert W. Baird raised their price objective on Axalta Coating Systems from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $32.82.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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