Neogen Corp. (NEOG) Position Cut by Private Trust Co. NA
Private Trust Co. NA reduced its position in shares of Neogen Corp. (NASDAQ:NEOG) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,514 shares of the company’s stock after selling 824 shares during the period. Private Trust Co. NA owned 0.12% of Neogen Corp. worth $2,434,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. PineBridge Investments L.P. increased its stake in Neogen Corp. by 4.0% in the second quarter. PineBridge Investments L.P. now owns 4,760 shares of the company’s stock worth $267,000 after buying an additional 185 shares during the period. Nisa Investment Advisors LLC increased its stake in Neogen Corp. by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 19,125 shares of the company’s stock worth $1,076,000 after buying an additional 200 shares during the period. Arizona State Retirement System increased its stake in Neogen Corp. by 1.0% in the second quarter. Arizona State Retirement System now owns 19,441 shares of the company’s stock worth $1,094,000 after buying an additional 200 shares during the period. FDx Advisors Inc. increased its stake in Neogen Corp. by 6.4% in the second quarter. FDx Advisors Inc. now owns 5,188 shares of the company’s stock worth $292,000 after buying an additional 313 shares during the period. Finally, BlackRock Advisors LLC increased its stake in Neogen Corp. by 2.0% in the second quarter. BlackRock Advisors LLC now owns 17,483 shares of the company’s stock worth $983,000 after buying an additional 346 shares during the period. 85.00% of the stock is owned by institutional investors.
Shares of Neogen Corp. (NASDAQ:NEOG) traded down 0.25% on Monday, hitting $62.87. The stock had a trading volume of 169,751 shares. The firm has a market cap of $2.37 billion, a P/E ratio of 64.15 and a beta of 1.50. The company’s 50-day moving average price is $55.99 and its 200 day moving average price is $55.31. Neogen Corp. has a 12-month low of $43.79 and a 12-month high of $63.40.
Neogen Corp. (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, September 27th. The company reported $0.26 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.26. The firm earned $83.65 million during the quarter. Neogen Corp. had a return on equity of 9.36% and a net margin of 11.25%. Neogen Corp.’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, equities research analysts forecast that Neogen Corp. will post $1.12 earnings per share for the current fiscal year.
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A number of research firms have commented on NEOG. Craig Hallum raised Neogen Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Zacks Investment Research downgraded Neogen Corp. from a “buy” rating to a “hold” rating in a report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $58.25.
In related news, CFO Steven J. Quinlan sold 3,000 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $61.28, for a total transaction of $183,840.00. Following the completion of the transaction, the chief financial officer now directly owns 13,103 shares in the company, valued at approximately $802,951.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James L. Herbert sold 12,000 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $55.22, for a total value of $662,640.00. Following the transaction, the chief executive officer now owns 886,045 shares of the company’s stock, valued at $48,927,404.90. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
Neogen Corp. Company Profile
Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.
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