Olstein Capital Management L.P. Decreases Stock Holdings in Avantor, Inc. (NYSE:AVTR)

Olstein Capital Management L.P. trimmed its position in shares of Avantor, Inc. (NYSE:AVTR) by 19.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,000 shares of the company’s stock after selling 56,184 shares during the period. Olstein Capital Management L.P.’s holdings in Avantor were worth $6,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of AVTR. 1832 Asset Management L.P. raised its holdings in shares of Avantor by 1,634.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,530,118 shares of the company’s stock worth $180,839,000 after acquiring an additional 8,038,451 shares in the last quarter. CCLA Investment Management raised its holdings in shares of Avantor by 147,220.3% during the 1st quarter. CCLA Investment Management now owns 4,720,144 shares of the company’s stock worth $120,828,000 after acquiring an additional 4,716,940 shares in the last quarter. Sound Shore Management Inc. CT bought a new position in shares of Avantor during the 2nd quarter valued at approximately $76,412,000. Principal Financial Group Inc. increased its position in shares of Avantor by 146.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,628,372 shares of the company’s stock valued at $67,996,000 after purchasing an additional 1,562,018 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Avantor by 6.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 22,927,325 shares of the company’s stock valued at $486,059,000 after purchasing an additional 1,463,695 shares during the last quarter. 95.08% of the stock is owned by hedge funds and other institutional investors.

Avantor Trading Up 0.9 %

NYSE:AVTR traded up $0.20 during trading hours on Thursday, hitting $22.97. The company had a trading volume of 55,127 shares, compared to its average volume of 6,395,680. The company has a current ratio of 1.54, a quick ratio of 1.06 and a debt-to-equity ratio of 0.84. The company has a 50-day moving average of $25.03 and a 200 day moving average of $24.14. The company has a market cap of $15.63 billion, a P/E ratio of 49.93, a P/E/G ratio of 2.70 and a beta of 1.35. Avantor, Inc. has a 1 year low of $18.08 and a 1 year high of $28.00.

Analysts Set New Price Targets

AVTR has been the topic of several analyst reports. TD Cowen boosted their target price on Avantor from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Barclays dropped their price target on Avantor from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Citigroup lowered Avantor from a “buy” rating to a “neutral” rating and dropped their target price for the company from $30.00 to $23.00 in a research report on Wednesday, July 10th. Wells Fargo & Company dropped their target price on Avantor from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, Robert W. Baird dropped their target price on Avantor from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Avantor has a consensus rating of “Moderate Buy” and an average target price of $27.57.

Insider Buying and Selling at Avantor

In other news, CAO Steven W. Eck sold 3,525 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $25.06, for a total transaction of $88,336.50. Following the completion of the transaction, the chief accounting officer now directly owns 29,544 shares in the company, valued at approximately $740,372.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Avantor Company Profile

Avantor, Inc engages in the provision of mission-critical products and services to customers in the biopharma, healthcare, education and government, advanced technologies, and applied materials industries in the Americas, Europe, Asia, the Middle East, and Africa. The company offers materials and consumables, such as purity chemicals and reagents, lab products and supplies, formulated silicone materials, customized excipients, customized single-use assemblies, process chromatography resins and columns, analytical sample prep kits, education and microbiology products, clinical trial kits, peristaltic pumps, and fluid handling tips.