Arnhold More Than Doubles Axalta Coatings Systems Share Holding

Key Points

• Arnhold bought 264,281 shares of Axalta.

• Arnhold now holds 500,700 shares of Axalta, valued at $16.2 million as of Dec. 31.

• Axalta comprises 1.2% of Arnhold's reportable AUM.

• 10 stocks we like better than Axalta Coating Systems ›

According to an SEC filing dated Feb. 9, Arnhold LLC disclosed a purchase of 264,281 shares of Axalta Coating Systems(NYSE:AXTA).

• The quarter-end position value increased by $9.4 million.
• Arnhold now holds 500,700 shares of Axalta, valued at $16.2 million as of Dec. 31.
• Axalta comprises 1.2% of Arnhold's reportable AUM, placing it outside the fund's top five holdings.

What else to know

• Top holdings after the filing:
  • NYSEMKT: GLD: $199.9 million (15.2% of AUM)
  • NYSEMKT: IAU: $142.6 million (10.8% of AUM)
  • NASDAQ: GOOGL: $58.7 million (4.5% of AUM)
  • NYSE: COHR: $50.1 million (3.8% of AUM)
  • NYSE: VRT: $44.3 million (3.4% of AUM)

Company overview

Company snapshot

Axalta Coating Systems Ltd. is a global leader in specialty coatings, leveraging a diversified portfolio to serve automotive, industrial, and commercial end markets.

• Manufactures and markets high-performance coatings systems, including water- and solvent-borne paints, powder coatings, and electrocoat products for automotive, industrial, and commercial applications.
• Operates a dual-segment business model (Performance Coatings and Transportation Coatings), generating revenue through sales to OEMs, body shops, and industrial clients worldwide.
• Serves independent body shops, OEM dealership body shops, automotive and commercial vehicle manufacturers, and a variety of industrial and architectural customers across North America, EMEA, Asia Pacific, and Latin America.

What this transaction means for investors

Arnhold aggressively purchases Axalta Coating Systems’ shares during the fourth quarter. The firm more than doubled its 236,419 shares to 500,700 shares over three months.

The position had a value of $16.2 million at the end of the year, compared to $6.8 million on Sept. 30. At the end of December, Axalta represented 1.2% of Arnhold’s reported $1.3 billion of AUM.

Arnhold clearly hopes Axalta’s stock performance will improve. The shares lost 11.1% over the last year through Feb. 6. That trailed the S&P 500 index’s 15.4% total return.

Interestingly, among the asset management firm’s 114 reported holdings, it is heavily weighted in gold exchange-traded funds (ETFs). Its two largest holdings, SPDR Gold Trust (NYSEMKT: GLD) and iShares Gold Trust (NYSEMKT: IAU), combined accounted for 26% of Arnhold’s AUM. These ETFs directly hold gold, and the commodity’s price has surged over the last few years.

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Lawrence Rothman, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Coherent, and Vertiv. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.