Olstein Capital Management L.P. Reduces Position in Avantor, Inc. (NYSE:AVTR)

Olstein Capital Management L.P. lessened its position in shares of Avantor, Inc. (NYSE:AVTR) by 19.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 235,000 shares of the company’s stock after selling 56,184 shares during the quarter. Olstein Capital Management L.P.’s holdings in Avantor were worth $6,079,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AVTR. Boston Partners raised its holdings in Avantor by 2.2% during the first quarter. Boston Partners now owns 28,561,802 shares of the company’s stock worth $729,298,000 after purchasing an additional 624,369 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Avantor by 6.8% in the second quarter. Canada Pension Plan Investment Board now owns 22,927,325 shares of the company’s stock worth $486,059,000 after acquiring an additional 1,463,695 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Avantor by 1,634.9% in the second 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 during the last quarter. Bessemer Group Inc. raised its holdings in shares of Avantor by 4.4% in the first quarter. Bessemer Group Inc. now owns 7,099,848 shares of the company’s stock worth $181,544,000 after acquiring an additional 297,534 shares during the last quarter. Finally, Robeco Schweiz AG raised its holdings in shares of Avantor by 5.0% in the second quarter. Robeco Schweiz AG now owns 6,006,985 shares of the company’s stock worth $127,348,000 after acquiring an additional 287,717 shares during the last quarter. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Avantor Stock Performance

AVTR stock traded up $0.20 on Thursday, reaching $22.97. The company’s stock had a trading volume of 55,127 shares, compared to its average volume of 6,395,680. Avantor, Inc. has a 52 week low of $18.08 and a 52 week high of $28.00. The company has a market capitalization of $15.63 billion, a P/E ratio of 49.93, a price-to-earnings-growth ratio of 2.70 and a beta of 1.35. The firm has a fifty day moving average of $25.03 and a two-hundred day moving average of $24.14. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.06.

Insider Buying and Selling

In other Avantor 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 of the company’s stock, valued at approximately $740,372.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AVTR shares. Wells Fargo & Company cut their price target on Avantor from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Avantor in a research report on Thursday, September 26th. TD Cowen lifted their price objective on Avantor from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Citigroup downgraded Avantor from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $30.00 to $23.00 in a research report on Wednesday, July 10th. Finally, Robert W. Baird cut their price target on Avantor from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Avantor has a consensus rating of “Moderate Buy” and an average price target of $27.57.

About Avantor

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.