MetLife Investment Advisors LLC Decreases Holdings in Neogen Co. (NEOG)

MetLife Investment Advisors LLC decreased its position in shares of Neogen Co. (NASDAQ:NEOG) by 36.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,760 shares of the company’s stock after selling 12,404 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Neogen were worth $1,240,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NEOG. First Hawaiian Bank bought a new stake in Neogen during the 4th quarter valued at $26,000. Captrust Financial Advisors increased its stake in Neogen by 47.0% during the 4th quarter. Captrust Financial Advisors now owns 970 shares of the company’s stock valued at $55,000 after purchasing an additional 310 shares in the last quarter. South Dakota Investment Council bought a new stake in Neogen during the 4th quarter valued at $74,000. We Are One Seven LLC bought a new stake in Neogen during the 4th quarter valued at $85,000. Finally, First Manhattan Co. bought a new stake in Neogen during the 4th quarter valued at $114,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Shares of NEOG traded up $1.35 during midday trading on Friday, hitting $59.22. 145,659 shares of the company traded hands, compared to its average volume of 207,520. Neogen Co. has a one year low of $50.60 and a one year high of $97.38. The stock has a market cap of $3.00 billion, a PE ratio of 48.94, a P/E/G ratio of 5.06 and a beta of 1.33.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). The company had revenue of $97.70 million for the quarter, compared to the consensus estimate of $102.55 million. Neogen had a net margin of 14.96% and a return on equity of 10.48%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. Equities analysts expect that Neogen Co. will post 1.14 earnings per share for the current year.

NEOG has been the topic of a number of analyst reports. BidaskClub raised shares of Neogen from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Craig Hallum raised shares of Neogen from a “hold” rating to a “buy” rating and set a $62.76 price objective on the stock in a report on Tuesday, March 19th. ValuEngine downgraded shares of Neogen from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Neogen in a report on Monday, December 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Neogen presently has a consensus rating of “Hold” and a consensus price target of $62.76.

In related news, CFO Steven J. Quinlan sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $62.50, for a total value of $300,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James L. Herbert sold 10,262 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $61.60, for a total transaction of $632,139.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,364 shares of company stock worth $5,491,339. 3.00% of the stock is owned by company insiders.

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Neogen Company Profile

Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as 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 for adenosine triphosphate, a chemical found in living cells.

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Institutional Ownership by Quarter for Neogen (NASDAQ:NEOG)

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