Trading Report: The Cooke & Bieler LP decides to keep it stake in Axalta Coating Systems Ltd. (AXTA) to the level of $55,311,000

The Cooke & Bieler LP decides to keep it stake in Axalta Coating Systems Ltd. (AXTA) to the level of $55,311,000

Cooke & Bieler LP raised its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 50.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,084,817 shares of the company’s stock after buying an additional 697,054 shares during the period. Cooke & Bieler LP owned about 0.87% of Axalta Coating Systems worth $55,311,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AXTA. Daiwa Securities Group Inc. boosted its stake in shares of Axalta Coating Systems by 29.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,000 shares of the company’s stock valued at $106,000 after buying an additional 900 shares during the period. Royal Bank of Canada boosted its stake in shares of Axalta Coating Systems by 3.5% in the first quarter. Royal Bank of Canada now owns 7,050 shares of the company’s stock valued at $207,000 after buying an additional 236 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Axalta Coating Systems during the first quarter valued at $219,000. Shell Asset Management Co. boosted its stake in shares of Axalta Coating Systems by 18.4% in the second quarter. Shell Asset Management Co. now owns 7,816 shares of the company’s stock valued at $207,000 after buying an additional 1,214 shares during the period. Finally, Aperio Group LLC acquired a new stake in shares of Axalta Coating Systems during the first quarter valued at $256,000. Institutional investors and hedge funds own 99.24% of the company’s stock.

Axalta Coating Systems Ltd. (NYSE:AXTA) traded up 0.72% during midday trading on Monday, reaching $26.40. 1,505,765 shares of the company traded hands. Axalta Coating Systems Ltd. has a one year low of $20.67 and a one year high of $30.45. The stock’s 50 day moving average is $27.81 and its 200 day moving average is $28.10. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 42.04 and a beta of 1.62.

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

Several analysts have weighed in on the stock. JPMorgan Chase & Co. set a $30.00 price objective on shares of Axalta Coating Systems and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Zacks Investment Research raised shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Barclays PLC reissued a “hold” rating on shares of Axalta Coating Systems in a report on Thursday, July 28th. Credit Suisse Group AG reissued an “outperform” rating and issued a $34.00 target price on shares of Axalta Coating Systems in a report on Thursday, September 8th. Finally, Nomura reissued a “buy” rating on shares of Axalta Coating Systems in a report on Tuesday, July 12th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $32.69.

In related news, major shareholder V General Partner L.L.C. Cp sold 41,621,996 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $28.13, for a total value of $1,170,826,747.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Charles W. Shaver sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $28.21, for a total transaction of $5,642,000.00. Following the completion of the transaction, the chief executive officer now owns 762,110 shares in the company, valued at $21,499,123.10. 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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