Mutual of America Capital Management LLC Has $7.22 Million Stake in Neogen Co. (NASDAQ:NEOG)

Mutual of America Capital Management LLC lifted its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 52.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 owned 0.27% of Neogen worth $7,216,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in Neogen by 142.6% in the third 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 in the last quarter. Blue Trust Inc. boosted its stake in Neogen by 196.7% in the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company's stock worth $41,000 after purchasing an additional 2,233 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Neogen in the third quarter valued at $66,000. KBC Group NV raised its holdings in shares of Neogen by 39.1% in the fourth quarter. KBC Group NV now owns 8,464 shares of the company's stock valued at $103,000 after buying an additional 2,379 shares during the last quarter. Finally, Hardy Reed LLC acquired a new position in Neogen during the 4th quarter worth about $133,000. Institutional investors and hedge funds own 96.73% of the company's stock.

Insider Buying and Selling at Neogen

In related news, CEO John Edward Adent bought 23,035 shares of Neogen stock in a transaction on Thursday, January 16th. The shares were purchased at an average price of $11.03 per share, for a total transaction of $254,076.05. Following the completion of the acquisition, the chief executive officer now owns 269,164 shares in the company, valued at approximately $2,968,878.92. This represents a 9.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David H. Naemura purchased 14,800 shares of the stock in a transaction dated Thursday, January 16th. The stock was bought at an average cost of $11.11 per share, with a total value of $164,428.00. Following the completion of the purchase, the chief financial officer now owns 61,434 shares in the company, valued at $682,531.74. The trade was a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.13% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Guggenheim assumed coverage on shares of Neogen in a research report on Thursday, December 19th. They issued a "buy" rating and a $15.00 price objective for the company. Piper Sandler reissued a "neutral" rating and issued a $13.00 price target (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

Neogen Trading Up 1.7 %

Shares of NEOG traded up $0.17 during trading hours on Thursday, hitting $9.71. 674,001 shares of the stock traded hands, compared to its average volume of 1,955,458. The business has a fifty day moving average of $11.24 and a 200-day moving average of $13.62. The firm has a market capitalization of $2.11 billion, a PE ratio of -4.44 and a beta of 1.27. Neogen Co. has a 1-year low of $9.01 and a 1-year high of $18.58. The company has a current ratio of 3.77, a quick ratio of 2.46 and a debt-to-equity ratio of 0.33.

Neogen (NASDAQ:NEOG - Get Free Report) last released its earnings results on Friday, January 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.12. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company had revenue of $231.30 million for the quarter, compared to the consensus estimate of $227.16 million. During the same period in the prior year, the company posted $0.11 EPS. The company's revenue was up .7% compared to the same quarter last year. Analysts expect that Neogen Co. will post 0.38 EPS for the current year.

Neogen 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.