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

Olstein Capital Management L.P. reduced its holdings in shares of Avantor, Inc. (NYSE:AVTR) by 6.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,184 shares of the company’s stock after selling 20,816 shares during the quarter. Olstein Capital Management L.P.’s holdings in Avantor were worth $7,522,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mesirow Institutional Investment Management Inc. purchased a new stake in Avantor in the 4th quarter worth approximately $2,842,000. Raymond James & Associates lifted its stake in Avantor by 84.8% in the 4th quarter. Raymond James & Associates now owns 1,165,646 shares of the company’s stock worth $26,612,000 after purchasing an additional 534,901 shares in the last quarter. Federated Hermes Inc. lifted its stake in Avantor by 19.9% in the 4th quarter. Federated Hermes Inc. now owns 628,189 shares of the company’s stock worth $14,342,000 after purchasing an additional 104,296 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Avantor by 146.1% in the 4th quarter. BNP Paribas Financial Markets now owns 217,296 shares of the company’s stock worth $4,961,000 after purchasing an additional 129,010 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in Avantor by 17.6% in the 4th quarter. DAVENPORT & Co LLC now owns 2,283,767 shares of the company’s stock worth $52,430,000 after purchasing an additional 342,452 shares in the last quarter. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Avantor Stock Performance

NYSE AVTR traded up $0.43 during trading hours on Wednesday, hitting $21.01. 5,206,885 shares of the company’s stock traded hands, compared to its average volume of 5,819,742. The business’s fifty day moving average price is $23.56 and its two-hundred day moving average price is $23.79. The company has a current ratio of 1.61, a quick ratio of 1.05 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $14.27 billion, a P/E ratio of 53.87, a P/E/G ratio of 2.15 and a beta of 1.32. Avantor, Inc. has a 52 week low of $16.63 and a 52 week high of $26.16.

Avantor (NYSE:AVTR) last announced its earnings results on Friday, April 26th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. Avantor had a net margin of 3.79% and a return on equity of 13.01%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 earnings per share. Equities research analysts predict that Avantor, Inc. will post 1.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AVTR shares. Evercore ISI decreased their price target on shares of Avantor from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday. Robert W. Baird decreased their price target on shares of Avantor from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Avantor from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. Finally, Barclays decreased their price target on shares of Avantor from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

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.