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

Olstein Capital Management L.P. grew its holdings in Avantor, Inc. (NYSE:AVTR - Free Report) by 59.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 568,000 shares of the company's stock after acquiring an additional 212,000 shares during the period. Avantor comprises 1.7% of Olstein Capital Management L.P.'s holdings, making the stock its 11th biggest position. Olstein Capital Management L.P. owned about 0.08% of Avantor worth $9,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVTR. Choreo LLC raised its position in Avantor by 24.5% during the fourth quarter. Choreo LLC now owns 55,803 shares of the company's stock valued at $1,176,000 after acquiring an additional 10,994 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Avantor by 13.0% during the 4th quarter. Empowered Funds LLC now owns 12,584 shares of the company's stock valued at $265,000 after purchasing an additional 1,451 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Avantor by 0.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 188,900 shares of the company's stock valued at $3,980,000 after purchasing an additional 500 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Avantor by 3.0% in the 4th quarter. New York State Teachers Retirement System now owns 337,351 shares of the company's stock valued at $7,108,000 after purchasing an additional 9,813 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Avantor by 1.8% during the fourth quarter. Rhumbline Advisers now owns 1,922,368 shares of the company's stock worth $40,504,000 after buying an additional 33,692 shares in the last quarter. Institutional investors and hedge funds own 95.08% of the company's stock.

Avantor Trading Up 0.1%

Shares of Avantor stock traded up $0.02 during mid-day trading on Thursday, hitting $13.54. The stock had a trading volume of 6,084,012 shares, compared to its average volume of 8,152,864. Avantor, Inc. has a 12-month low of $11.82 and a 12-month high of $28.00. The firm has a market cap of $9.23 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The firm has a 50-day moving average of $13.65 and a two-hundred day moving average of $17.55. The company has a quick ratio of 0.70, a current ratio of 1.07 and a debt-to-equity ratio of 0.54.

Avantor (NYSE:AVTR - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. Avantor had a return on equity of 12.17% and a net margin of 10.49%. The company's quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 EPS. Sell-side analysts forecast that Avantor, Inc. will post 1.06 earnings per share for the current year.

Insider Activity at Avantor

In related news, Director Gregory L. Summe acquired 20,000 shares of Avantor stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $12.65 per share, with a total value of $253,000.00. Following the purchase, the director now directly owns 70,000 shares in the company, valued at approximately $885,500. The trade was a 40.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph R. Massaro bought 8,100 shares of Avantor stock in a transaction that occurred on Tuesday, April 29th. The stock was bought at an average cost of $12.30 per share, for a total transaction of $99,630.00. Following the purchase, the director now owns 35,038 shares in the company, valued at $430,967.40. This represents a 30.07% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 83,100 shares of company stock worth $1,027,630. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Avantor from $24.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Citigroup dropped their price objective on Avantor from $22.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Barclays reduced their target price on Avantor from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Robert W. Baird reduced their price objective on shares of Avantor from $21.00 to $17.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, TD Cowen downgraded shares of Avantor from a "buy" rating to a "hold" rating and set a $15.50 price objective on the stock. in a report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $18.88.

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.