Ionic Capital Management buys $10,886,652 stake in Axalta Coating Systems Ltd (AXTA)

Axalta Coating Systems Ltd (AXTA) : Ionic Capital Management scooped up 41,709 additional shares in Axalta Coating Systems Ltd during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 388,809 shares of Axalta Coating Systems Ltd which is valued at $10,886,652.Axalta Coating Systems Ltd makes up approximately 1.87% of Ionic Capital Management’s portfolio.

Other Hedge Funds, Including , Hbk Investments L P sold out all of its stake in AXTA during the most recent quarter. The investment firm sold 96,900 shares of AXTA which is valued $2,713,200. Nicholas Co Inc Wi added AXTA to its portfolio by purchasing 207,310 company shares during the most recent quarter which is valued at $5,804,680. Axalta Coating Systems Ltd makes up approx 0.11% of Nicholas Co Inc Wi’s portfolio. Cannell Capital added AXTA to its portfolio by purchasing 68,277 company shares during the most recent quarter which is valued at $1,911,756. Axalta Coating Systems Ltd makes up approx 0.73% of Cannell Capital’s portfolio. Symphony Asset Management sold out all of its stake in AXTA during the most recent quarter. The investment firm sold 10,356 shares of AXTA which is valued $289,968. Jefferies Group sold out all of its stake in AXTA during the most recent quarter. The investment firm sold 10,650 shares of AXTA which is valued $298,200.

Axalta Coating Systems Ltd opened for trading at $28.76 and hit $29.03 on the upside on Thursday, eventually ending the session at $28.95, with a gain of 1.15% or 0.33 points. The heightened volatility saw the trading volume jump to 22,00,651 shares. Company has a market cap of $6,923 M.

On the company’s financial health, Axalta Coating Systems Ltd reported $0.34 EPS for the quarter, based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus estimate of $0.34. The company had revenue of $1072.10 million for the quarter, compared to analysts expectations of $1065.35 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on Axalta Coating Systems Ltd. Gabelli & Co Initiated Axalta Coating Systems Ltd on Sep 1, 2016 to “Buy”, Price Target of the shares are set at $37.Company shares were Upgraded by Seaport Global Securities on Jul 27, 2016 to ” Buy”, Firm has raised the Price Target to $ 36 from a previous price target of $34 .Axalta Coating Systems Ltd was Resumed by Credit Suisse to “Outperform” on Jun 27, 2016.

Axalta Coating Systems Ltd. is a manufacturer marketer and distributor of coatings systems primarily serving the transportation industry. The Company operates in two business segments: 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. Through its Transportation Coatings segment the Company provides advanced coating technologies to original equipment manufacturer (OEMs) of light and commercial vehicles. Its products are offered in four key end-markets including the refinish automotive aftermarket industrial light vehicle or automotive original equipment manufacturers (OEM) market and commercial vehicle market. The Company’s products include liquid and powder coatings for motor vehicles OEMs the motor vehicle aftermarket and general industrial applications such as coatings for heavy equipment pipes appliances and electrical insulation.

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