Fairfield Bush & CO. lifted its stake in Neogen Corporation (NASDAQ:NEOG) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,570 shares of the company’s stock after acquiring an additional 3,845 shares during the quarter. Neogen Corporation makes up approximately 1.9% of Fairfield Bush & CO.’s investment portfolio, making the stock its 19th largest position. Fairfield Bush & CO. owned approximately 0.23% of Neogen Corporation worth $5,983,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in shares of Neogen Corporation in the second quarter valued at about $209,000. Schwab Charles Investment Management Inc. increased its position in shares of Neogen Corporation by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 154,157 shares of the company’s stock valued at $10,105,000 after acquiring an additional 8,184 shares during the last quarter. State Street Corp increased its position in shares of Neogen Corporation by 8.9% in the first quarter. State Street Corp now owns 905,938 shares of the company’s stock valued at $59,385,000 after acquiring an additional 73,771 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Neogen Corporation by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 7,526 shares of the company’s stock valued at $520,000 after acquiring an additional 3,316 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Neogen Corporation by 19.0% in the first quarter. UBS Asset Management Americas Inc. now owns 20,838 shares of the company’s stock valued at $1,366,000 after acquiring an additional 3,330 shares during the last quarter. 86.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Neogen Corporation (NEOG) traded down 0.38% during trading on Tuesday, reaching $78.03. The company’s stock had a trading volume of 85,438 shares. The firm has a market cap of $2.98 billion, a PE ratio of 65.57 and a beta of 1.51. The stock’s 50 day moving average price is $72.00 and its 200-day moving average price is $66.67. Neogen Corporation has a 12 month low of $50.53 and a 12 month high of $79.99.
In other news, Director James P. Tobin acquired 500 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was purchased at an average price of $64.64 per share, for a total transaction of $32,320.00. Following the purchase, the director now owns 3,200 shares in the company, valued at approximately $206,848. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Edward Bradley sold 38,876 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $71.28, for a total transaction of $2,771,081.28. Following the completion of the sale, the vice president now owns 83,712 shares of the company’s stock, valued at approximately $5,966,991.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 138,543 shares of company stock valued at $10,178,418. Company insiders own 4.20% of the company’s stock.
A number of research firms recently issued reports on NEOG. Zacks Investment Research downgraded Neogen Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. BidaskClub raised Neogen Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Finally, CL King began coverage on Neogen Corporation in a research report on Friday, July 14th. They set a “neutral” rating on the stock.
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About Neogen Corporation
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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