Amalgamated Bank Reduces Stock Holdings in Neogen Co. (NASDAQ:NEOG)

Amalgamated Bank trimmed its position in Neogen Co. (NASDAQ:NEOG) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,868 shares of the company’s stock after selling 7,622 shares during the period. Amalgamated Bank’s holdings in Neogen were worth $1,494,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp boosted its position in Neogen by 67.5% in 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 last quarter. SG Americas Securities LLC boosted its position in Neogen by 277.1% in the first quarter. SG Americas Securities LLC now owns 45,558 shares of the company’s stock worth $719,000 after purchasing an additional 33,478 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Neogen by 73.4% during the 1st quarter. BNP Paribas Financial Markets now owns 115,830 shares of the company’s stock valued at $1,828,000 after buying an additional 49,041 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Neogen during the 2nd quarter valued at about $5,714,000. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Neogen by 39.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 103,611 shares of the company’s stock valued at $1,619,000 after buying an additional 29,489 shares in the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Stock Down 6.5 %

Shares of NEOG opened at $15.34 on Wednesday. The business’s 50 day moving average is $15.35 and its 200 day moving average is $15.42. The company has a market capitalization of $3.32 billion, a PE ratio of -139.45 and a beta of 1.23. Neogen Co. has a 12-month low of $11.46 and a 12-month high of $20.89. The company has a current ratio of 4.41, a quick ratio of 2.79 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG) last issued its earnings results on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The business had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.11 EPS. Research analysts expect that Neogen Co. will post 0.5 earnings per share for the current fiscal year.

Insider Activity at Neogen

In other Neogen news, CEO John Edward Adent bought 14,500 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were bought at an average price of $13.80 per share, with a total value of $200,100.00. Following the purchase, the chief executive officer now owns 216,477 shares of the company’s stock, valued at $2,987,382.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Neogen from $17.00 to $17.50 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com raised Neogen to a “sell” rating in a research report on Monday, September 30th.

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.