MetLife Investment Management LLC Acquires 339,198 Shares of Avantor, Inc. (NYSE:AVTR)

MetLife Investment Management LLC raised its holdings in shares of Avantor, Inc. (NYSE:AVTR) by 2,791.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 351,348 shares of the company’s stock after purchasing an additional 339,198 shares during the quarter. MetLife Investment Management LLC owned 0.05% of Avantor worth $9,089,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Swedbank AB bought a new stake in Avantor during the 1st quarter valued at about $2,707,000. Sound Shore Management Inc. CT purchased a new stake in shares of Avantor in the second quarter valued at approximately $76,412,000. Seven Eight Capital LP bought a new position in Avantor in the second quarter worth approximately $642,000. New York State Teachers Retirement System purchased a new position in Avantor during the 3rd quarter worth $8,473,000. Finally, Allspring Global Investments Holdings LLC raised its position in Avantor by 35.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,157,855 shares of the company’s stock valued at $24,547,000 after purchasing an additional 300,579 shares in the last quarter. 95.08% of the stock is owned by hedge funds and other institutional investors.

Avantor Stock Performance

AVTR opened at $21.04 on Friday. The firm’s 50-day moving average price is $23.40 and its 200-day moving average price is $23.76. The company has a market cap of $14.32 billion, a P/E ratio of 45.74, a price-to-earnings-growth ratio of 2.56 and a beta of 1.35. The company has a quick ratio of 1.06, a current ratio of 1.54 and a debt-to-equity ratio of 0.84. Avantor, Inc. has a 52-week low of $19.59 and a 52-week high of $28.00.

Insider Buying and Selling at Avantor

In related news, CAO Steven W. Eck sold 3,525 shares of Avantor stock in a transaction dated 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 sale, the chief accounting officer now owns 29,544 shares of the company’s stock, valued at $740,372.64. The trade was a 10.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AVTR. Barclays dropped their price target on Avantor from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. UBS Group cut their target price on shares of Avantor from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Robert W. Baird lowered their price target on shares of Avantor from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company cut their price objective on shares of Avantor from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $34.00 target price on shares of Avantor in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.