Mutual of America Capital Management LLC Has $6.54 Million Position in Neogen Co. (NASDAQ:NEOG)

Mutual of America Capital Management LLC lifted its holdings in shares of Neogen Co. (NASDAQ:NEOG) by 44.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 owned about 0.18% of Neogen worth $6,538,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Covestor Ltd boosted its position in Neogen by 173.2% during the first quarter. Covestor Ltd now owns 1,970 shares of the company’s stock valued at $31,000 after purchasing an additional 1,249 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company’s stock valued at $33,000 after buying an additional 1,165 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Neogen in the second quarter valued at $46,000. Headlands Technologies LLC increased its holdings in Neogen by 264.1% during the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company’s stock worth $53,000 after buying an additional 2,464 shares during the last quarter. Finally, Family Firm Inc. bought a new stake in Neogen during the second quarter worth $90,000. Institutional investors own 96.73% of the company’s stock.

Wall Street Analyst Weigh In

NEOG has been the subject of a number of analyst reports. StockNews.com raised shares of Neogen to a “sell” rating in a research report on Monday, September 30th. Piper Sandler boosted their price target on Neogen from $17.00 to $17.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th.

Insider Transactions at Neogen

In other news, CEO John Edward Adent acquired 14,500 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were purchased at an average cost 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 $2,987,382.60. This represents a 7.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.13% of the stock is owned by corporate insiders.

Neogen Trading Down 0.7 %

NEOG stock opened at $15.09 on Wednesday. Neogen Co. has a one year low of $11.46 and a one year high of $20.89. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -137.18 and a beta of 1.23. The company has a fifty day moving average price of $15.28 and a two-hundred day moving average price of $15.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.41 and a quick ratio of 2.79.

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