King Luther Capital Management Corp Has $59.58 Million Stock Position in Neogen Co. (NASDAQ:NEOG)

King Luther Capital Management Corp trimmed its position in Neogen Co. (NASDAQ:NEOG - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,907,531 shares of the company's stock after selling 174,531 shares during the period. King Luther Capital Management Corp owned 2.26% of Neogen worth $59,577,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in Neogen by 196.7% in the 4th 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 bought a new position in Neogen in the 3rd quarter valued at approximately $66,000. KBC Group NV raised its holdings in Neogen by 39.1% in the 4th 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. Hardy Reed LLC bought a new position in Neogen in the 4th quarter valued at approximately $133,000. Finally, Marco Investment Management LLC acquired a new stake in Neogen during the 3rd quarter worth approximately $169,000. 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 purchased 23,035 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was purchased at an average cost of $11.03 per share, with a total value of $254,076.05. Following the completion of the purchase, the chief executive officer now owns 269,164 shares in the company, valued at approximately $2,968,878.92. This trade represents a 9.36 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David H. Naemura acquired 14,800 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were bought at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the acquisition, the chief financial officer now directly owns 61,434 shares of the company's stock, valued at approximately $682,531.74. This trade represents a 31.74 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.13% of the company's stock.

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Analyst Upgrades and Downgrades

NEOG has been the subject of several analyst reports. Guggenheim initiated coverage on shares of Neogen in a research note on Thursday, December 19th. They set a "buy" rating and a $15.00 price target for the company. Piper Sandler reaffirmed a "neutral" rating and set a $13.00 target price (down from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

Neogen Trading Down 2.7 %

NASDAQ NEOG traded down $0.26 during mid-day trading on Thursday, reaching $9.22. 2,506,868 shares of the stock were exchanged, compared to its average volume of 1,993,166. The stock has a market cap of $2.00 billion, a P/E ratio of -4.21 and a beta of 1.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. Neogen Co. has a one year low of $9.01 and a one year high of $18.58. The stock has a 50 day simple moving average of $10.95 and a 200-day simple moving average of $13.37.

Neogen (NASDAQ:NEOG - Get Free Report) last posted its quarterly earnings data 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. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The firm had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. During the same period last year, the company posted $0.11 EPS. The business's quarterly revenue was up .7% on a year-over-year basis. On average, analysts anticipate 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.