The Vanguard Group, Inc. has recently announced that it has increased stake in Axalta Coating Systems Ltd (NYSE:AXTA) by 4.40%. After grabbing 22.57 million shares, the institutional investor is now in possession of 0.95 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 10.18% having worth around $591.97 million. Moreover, BlackRock Fund Advisors increased its share by 0.19 million to have a control over 17.53 million shares. And JPMorgan Investment Management, I raised its holdings to 1.42 million shares by acquiring 12.24 million shares or 5.52% of the stake.
Axalta Coating Systems Ltd (AXTA) concluded trading on 12/14/23 at a closing price of $33.67, with 5.06 million shares of worth about $170.52 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 3.44% during that period and on Thursday the price saw a gain of about 1.20%. Currently the company’s common shares owned by public are about 220.60M shares, out of which, 219.32M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 81 times over the past 12 months. They bought 554,920 shares in 47 of the transactions. In 34 selling transactions, insiders dumped 184,752 shares.
Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Axalta Coating Systems Ltd Vanguard Total Stock Market ETF is currently holding 6.94 million shares of worth totaling $181.96 million. The company recently came buying 42426.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 5.72 million shares, have now control over 2.58% of the stake in the company. It holds 13074.0 shares of worth $149.98 million.
However, the stock later moved at a day high price of 34.06, or with a gain of 1.20%. Stock saw a price change of 3.22% in past 5 days and over the past one month there was a price change of 9.21%. Year-to-date (YTD), AXTA shares are showing a performance of 32.19% which increased to 26.06% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $24.86 but also hit the highest price of $33.68 during that period. The average intraday trading volume for Axalta Coating Systems Ltd shares is 2.18 million. The stock is currently trading 6.01% above its 20-day simple moving average (SMA20), while that difference is up 15.33% for SMA50 and it goes to 13.01% higher than SMA200.
The Vanguard Group, Inc. acquired 22.57 million shares of Axalta Coating Systems Ltd having value of about $591.97 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.95 million shares in the company valued at close to $31996230.63, or have control over 4.40% stake in the company. Axalta Coating Systems Ltd (NYSE: AXTA) currently have 220.60M outstanding shares and institutions hold larger chunk of about 101.87% of that. Holding of mutual funds in the company is about 44.54% while other institutional holders and individual stake holders have control over 58.10% and 30.44% of the stake respectively.
The stock has a current market capitalization of $7.41B and its 3Y-monthly beta is at 1.51. PE ratio of stock for trailing 12 months is 31.42, while it has posted earnings per share of $1.07 in the same period. Its PEG reads 3.27 and has Quick Ratio of 1.50 while making debt-to-equity ratio of 2.21. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AXTA, volatility over the week remained 1.32% while standing at 1.29% over the month.
Analysts are in expectations that Axalta Coating Systems Ltd (AXTA) stock would likely to be making an EPS of $0.44 in the current quarter, while forecast for next quarter EPS is $0.42 and it is $1.9 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.41 which is $0.48 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.38 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 7.23% while it is estimated to increase by 20.26% in next year. EPS is likely to shrink at an annualized rate of 9.60% for next 5-years, compared to annual growth of 41.86% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on June 14, 2023 offering a Buy rating for the stock and assigned a target price of $37 to it.
