Mutual of America Capital Management LLC Acquires 119,865 Shares of Neogen Co. (NASDAQ:NEOG)

Mutual of America Capital Management LLC lifted its stake in Neogen Co. (NASDAQ:NEOG) by 44.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 388,954 shares of the company’s stock after buying an additional 119,865 shares during the period. Mutual of America Capital Management LLC’s holdings in Neogen were worth $6,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in shares of Neogen by 23.8% during the 1st quarter. Russell Investments Group Ltd. now owns 135,397 shares of the company’s stock valued at $2,110,000 after acquiring an additional 26,012 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Neogen by 67.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 616,190 shares of the company’s stock worth $9,723,000 after purchasing an additional 248,340 shares during the period. Vanguard Group Inc. grew its stake in Neogen by 0.9% during the first quarter. Vanguard Group Inc. now owns 19,715,974 shares of the company’s stock worth $311,118,000 after buying an additional 169,237 shares in the last quarter. Covestor Ltd increased its holdings in Neogen by 173.2% in the 1st quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after buying an additional 1,249 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Neogen by 1.2% in the 1st quarter. Bessemer Group Inc. now owns 73,920 shares of the company’s stock valued at $1,166,000 after buying an additional 851 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com raised Neogen to a “sell” rating in a report on Monday, September 30th.

Insider Activity

In other news, CEO John Edward Adent bought 14,500 shares of the stock in a transaction on Friday, October 11th. The stock was acquired at an average price of $13.80 per share, with a total value of $200,100.00. Following the acquisition, the chief executive officer now directly owns 216,477 shares in the company, valued at approximately $2,987,382.60. This trade represents a 7.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.13% of the stock is owned by corporate insiders.

Neogen Stock Performance

Neogen stock opened at $15.09 on Wednesday. The stock has a market cap of $3.27 billion, a PE ratio of -137.18 and a beta of 1.23. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $20.89. The business’s 50-day moving average price is $15.28 and its two-hundred day moving average price is $15.51.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Neogen had a positive return on equity of 2.80% and a negative net margin of 2.58%. The company had revenue of $217.00 million for the quarter, compared to analyst estimates of $215.05 million. During the same quarter in the prior year, the company earned $0.11 earnings per share. Neogen’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, analysts expect that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Neogen Company Profile

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.