Mutual of America Capital Management LLC Increases Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Mutual of America Capital Management LLC lifted its position in Neogen Co. (NASDAQ:NEOG) by 52.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 594,390 shares of the company’s stock after purchasing an additional 205,436 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Neogen were worth $7,216,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Neogen by 3.1% in the third quarter. State Street Corp now owns 7,932,192 shares of the company’s stock valued at $133,340,000 after purchasing an additional 236,762 shares during the period. Bamco Inc. NY grew its holdings in shares of Neogen by 1.4% in the third quarter. Bamco Inc. NY now owns 7,303,115 shares of the company’s stock valued at $122,765,000 after purchasing an additional 98,067 shares during the period. Champlain Investment Partners LLC grew its holdings in shares of Neogen by 10.7% in the third quarter. Champlain Investment Partners LLC now owns 7,110,530 shares of the company’s stock valued at $119,528,000 after purchasing an additional 690,029 shares during the period. Geode Capital Management LLC grew its holdings in shares of Neogen by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,148,388 shares of the company’s stock valued at $86,559,000 after purchasing an additional 20,387 shares during the period. Finally, Fred Alger Management LLC grew its holdings in shares of Neogen by 86.5% in the third quarter. Fred Alger Management LLC now owns 3,986,744 shares of the company’s stock valued at $67,017,000 after purchasing an additional 1,849,427 shares during the period. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NEOG. Piper Sandler reissued a “neutral” rating and issued a $13.00 price objective (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim initiated coverage on shares of Neogen in a research note on Thursday, December 19th. They set a “buy” rating and a $15.00 target price for the company.

Insider Transactions at Neogen

In other Neogen news, CFO David H. Naemura purchased 14,800 shares of Neogen stock in a transaction dated Thursday, January 16th. The shares were acquired at an average price of $11.11 per share, with a total value of $164,428.00. Following the completion of the transaction, the chief financial officer now owns 61,434 shares of the company’s stock, valued at $682,531.74. This trade represents a 31.74 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Edward Adent purchased 23,035 shares of Neogen stock in a transaction dated Thursday, January 16th. The shares were acquired at an average cost of $11.03 per share, for a total transaction of $254,076.05. Following the transaction, the chief executive officer now directly owns 269,164 shares of the company’s stock, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.13% of the company’s stock.

Neogen Trading Down 0.3 %

Shares of NEOG stock opened at $10.05 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. The firm has a market cap of $2.18 billion, a PE ratio of -4.59 and a beta of 1.23. The company has a 50-day moving average of $11.34 and a two-hundred day moving average of $13.72. Neogen Co. has a 1-year low of $9.70 and a 1-year high of $18.58.

Neogen (NASDAQ:NEOG) last announced its earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. The company had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. Neogen’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. On average, analysts predict that Neogen Co. will post 0.38 EPS for the current year.

About Neogen

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.