Mutual of America Capital Management LLC Decreases Stock Holdings in Neogen Corporation $NEOG

Key Points

• Mutual of America Capital Management LLC decreased its stake in Neogen Corporation by 21.2% in Q2, owning approximately 459,390 shares valued at $2.2 million after selling over 123,000 shares.
• Institutional investors hold 96.73% of Neogen's stock, with major increases in holdings from firms like Principal Financial Group Inc., which boosted its stake by 90.3%.
• Neogen's stock currently has a market cap of $1.35 billion and is rated as "Hold" by most analysts, with an average target price of $8.83.

Mutual of America Capital Management LLC decreased its stake in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) by 21.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 459,390 shares of the company's stock after selling 123,251 shares during the period. Mutual of America Capital Management LLC owned approximately 0.21% of Neogen worth $2,196,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of Neogen by 29.4% during the 1st quarter. Russell Investments Group Ltd. now owns 451,898 shares of the company's stock valued at $3,916,000 after purchasing an additional 102,640 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Neogen by 90.3% during the first quarter. Principal Financial Group Inc. now owns 1,123,391 shares of the company's stock worth $9,740,000 after acquiring an additional 533,064 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Neogen by 212.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 107,395 shares of the company's stock worth $931,000 after acquiring an additional 73,071 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Neogen by 8.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,235,459 shares of the company's stock worth $19,381,000 after acquiring an additional 173,532 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Neogen by 57.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 157,664 shares of the company's stock worth $1,367,000 after acquiring an additional 57,251 shares in the last quarter. Institutional investors own 96.73% of the company's stock.

Neogen Stock Performance

Shares of NASDAQ NEOG opened at $6.19 on Friday. The firm has a fifty day moving average price of $5.74 and a 200-day moving average price of $5.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.26. The stock has a market cap of $1.35 billion, a PE ratio of -1.29 and a beta of 1.90. Neogen Corporation has a 1 year low of $3.87 and a 1 year high of $16.79.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NEOG shares. Piper Sandler set a $6.50 price objective on shares of Neogen and gave the stock a "neutral" rating in a research note on Thursday, October 16th. Wall Street Zen raised shares of Neogen from a "sell" rating to a "hold" rating in a research note on Saturday, October 11th. Guggenheim dropped their target price on shares of Neogen from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Zacks Research upgraded shares of Neogen from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. Finally, CJS Securities initiated coverage on shares of Neogen in a research note on Monday, September 29th. They issued a "market perform" rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $8.83.

Neogen Company 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.

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