Trade Report: The Emerald Acquisition Ltd. Invests $788,000 in Axalta Coating Systems Ltd. (AXTA)

The Emerald Acquisition Ltd. Invests $788,000 in Axalta Coating Systems Ltd. (AXTA)

Emerald Acquisition Ltd. bought a new position in Axalta Coating Systems Ltd. (NYSE:AXTA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,690 shares of the company’s stock, valued at approximately $788,000.

Several other hedge funds have also added to or reduced their stakes in the company. Hermes Investment Management Ltd. purchased a new stake in Axalta Coating Systems during the second quarter worth about $12,398,000. State Street Corp raised its stake in Axalta Coating Systems by 4.0% in the first quarter. State Street Corp now owns 2,244,670 shares of the company’s stock worth $65,543,000 after buying an additional 85,743 shares in the last quarter. Aperio Group LLC purchased a new stake in Axalta Coating Systems during the first quarter worth about $256,000. TIAA CREF Investment Management LLC raised its stake in Axalta Coating Systems by 5.7% in the first quarter. TIAA CREF Investment Management LLC now owns 254,922 shares of the company’s stock worth $7,444,000 after buying an additional 13,796 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Axalta Coating Systems by 1.3% in the first quarter. UBS Asset Management Americas Inc. now owns 273,742 shares of the company’s stock worth $7,993,000 after buying an additional 3,530 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Shares of Axalta Coating Systems Ltd. (NYSE:AXTA) traded up 0.58% during midday trading on Thursday, reaching $26.15. 1,075,739 shares of the company’s stock were exchanged. The stock has a market cap of $6.25 billion, a PE ratio of 41.64 and a beta of 1.62. The company’s 50 day moving average is $27.98 and its 200-day moving average is $28.13. Axalta Coating Systems Ltd. has a 12 month low of $20.67 and a 12 month high of $30.45.

Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Tuesday, July 26th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.01. The business earned $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Axalta Coating Systems had a net margin of 3.76% and a return on equity of 20.89%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 EPS. Equities analysts forecast that Axalta Coating Systems Ltd. will post $1.16 EPS for the current fiscal year.

Several research firms recently issued reports on AXTA. Zacks Investment Research raised shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. set a $30.00 price objective on shares of Axalta Coating Systems and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Robert W. Baird reaffirmed an “outperform” rating and set a $35.00 price objective (up from $32.00) on shares of Axalta Coating Systems in a report on Monday, June 27th. Gabelli began coverage on shares of Axalta Coating Systems in a report on Thursday, September 1st. They set a “buy” rating and a $37.00 price objective for the company. Finally, Barclays PLC reaffirmed a “hold” rating on shares of Axalta Coating Systems in a report on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $32.69.

In other Axalta Coating Systems news, major shareholder V General Partner L.L.C. Cp sold 41,621,996 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $28.13, for a total transaction of $1,170,826,747.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert W. Bryant sold 227,654 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $28.33, for a total value of $6,449,437.82. Following the transaction, the chief financial officer now directly owns 294,256 shares of the company’s stock, valued at approximately $8,336,272.48. The disclosure for this sale can be found here. 2.79% of the stock is currently owned by insiders.

Axalta Coating Systems Company 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. Its segments include Performance Coatings and Transportation Coatings. The Company, through its Performance Coatings segment, provides liquid and powder coatings solutions to a fragmented and local customer base.

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