State Board of Administration of Florida Retirement System increased its stake in Axalta Coating Systems Ltd (NASDAQ:AXTA) by 11.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 149,355 shares of the specialty chemicals company’s stock after acquiring an additional 15,120 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.06% of Axalta Coating Systems worth $4,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC acquired a new position in shares of Axalta Coating Systems in the 2nd quarter worth $127,000. Daiwa Securities Group Inc. grew its holdings in shares of Axalta Coating Systems by 16.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,300 shares of the specialty chemicals company’s stock worth $203,000 after acquiring an additional 900 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of Axalta Coating Systems in the 1st quarter worth $210,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Axalta Coating Systems in the 2nd quarter worth $212,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in shares of Axalta Coating Systems by 46.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,900 shares of the specialty chemicals company’s stock worth $222,000 after acquiring an additional 2,200 shares during the last quarter.

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In related news, SVP Joseph F. Mcdougall sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $32.13, for a total transaction of $1,285,200.00. Following the sale, the senior vice president now directly owns 142,551 shares in the company, valued at approximately $4,580,163.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven R. Markevich sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $29.37, for a total transaction of $4,699,200.00. Following the sale, the executive vice president now owns 280,377 shares in the company, valued at $8,234,672.49. The disclosure for this sale can be found here. Insiders have sold a total of 319,500 shares of company stock worth $9,828,285 over the last 90 days.

Axalta Coating Systems Ltd (AXTA) opened at 29.02 on Thursday. The stock has a market cap of $7.06 billion and a P/E ratio of 2902.00. The stock’s 50 day moving average price is $30.03 and its 200-day moving average price is $31.25. Axalta Coating Systems Ltd has a one year low of $24.27 and a one year high of $34.10.

Axalta Coating Systems (NASDAQ:AXTA) last released its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.08. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Axalta Coating Systems Ltd will post $1.30 earnings per share for the current year.

A number of brokerages recently issued reports on AXTA. BidaskClub upgraded Axalta Coating Systems from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. UBS AG restated a “buy” rating and issued a $39.00 target price (up from $37.00) on shares of Axalta Coating Systems in a report on Tuesday, June 6th. Citigroup Inc. decreased their target price on Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, August 7th. Royal Bank Of Canada restated a “buy” rating and issued a $36.00 target price on shares of Axalta Coating Systems in a report on Thursday, July 6th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Axalta Coating Systems in a report on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Axalta Coating Systems presently has a consensus rating of “Hold” and an average target price of $33.40.

Axalta Coating Systems Profile

Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include 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.

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

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