Schwab Charles Investment Management Inc. Lowers Position in Axalta Coating Systems (AXTA)

Schwab Charles Investment Management Inc. lowered its stake in shares of Axalta Coating Systems (NYSE:AXTA) by 33.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,460,027 shares of the specialty chemicals company’s stock after selling 741,338 shares during the period. Schwab Charles Investment Management Inc. owned 0.60% of Axalta Coating Systems worth $44,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Diamond Hill Capital Management Inc. lifted its holdings in Axalta Coating Systems by 6.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 10,889,676 shares of the specialty chemicals company’s stock worth $328,759,000 after buying an additional 629,102 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Axalta Coating Systems by 19.9% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,980,498 shares of the specialty chemicals company’s stock worth $225,889,000 after buying an additional 1,156,400 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Axalta Coating Systems by 2.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,435,509 shares of the specialty chemicals company’s stock worth $103,718,000 after buying an additional 80,315 shares during the period. Wells Fargo & Company MN lifted its holdings in Axalta Coating Systems by 75.1% during the fourth quarter. Wells Fargo & Company MN now owns 3,146,214 shares of the specialty chemicals company’s stock worth $101,811,000 after buying an additional 1,349,093 shares during the period. Finally, Parnassus Investments CA lifted its holdings in Axalta Coating Systems by 29.7% during the fourth quarter. Parnassus Investments CA now owns 2,303,160 shares of the specialty chemicals company’s stock worth $74,530,000 after buying an additional 527,261 shares during the period.

In other Axalta Coating Systems news, CEO Charles W. Shaver sold 379,490 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $31.21, for a total value of $11,843,882.90. Following the sale, the chief executive officer now directly owns 620,318 shares of the company’s stock, valued at $19,360,124.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael A. Cash sold 64,898 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $32.59, for a total transaction of $2,115,025.82. Following the completion of the sale, the senior vice president now directly owns 242,056 shares in the company, valued at $7,888,605.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 747,324 shares of company stock worth $23,406,148. 2.10% of the stock is owned by insiders.

NYSE AXTA opened at $32.10 on Wednesday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.63 and a current ratio of 2.26. Axalta Coating Systems has a 1 year low of $27.77 and a 1 year high of $38.20. The firm has a market capitalization of $7.92 billion, a P/E ratio of 26.97, a PEG ratio of 1.71 and a beta of 1.32.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, April 25th. The specialty chemicals company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Axalta Coating Systems had a return on equity of 20.56% and a net margin of 0.94%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned $0.26 EPS. The firm’s revenue was up 15.7% on a year-over-year basis. analysts expect that Axalta Coating Systems will post 1.32 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on AXTA shares. Seaport Global Securities downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 17th. Zacks Investment Research downgraded Axalta Coating Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 10th. Bank of America raised Axalta Coating Systems from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a research report on Friday, April 27th. JPMorgan Chase upped their price target on Axalta Coating Systems from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 26th. Finally, BMO Capital Markets upped their price target on Axalta Coating Systems from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.13.

Axalta Coating Systems Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated 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.

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

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