Norges Bank Trims Neogen Stake to 4.7% as of Dec 31, 2023
Ticker: NEOG · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 711377
| Field | Detail |
|---|---|
| Company | Neogen Corp (NEOG) |
| Form Type | SC 13G/A |
| Filed Date | Jan 30, 2024 |
| Risk Level | medium |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: institutional-ownership, stake-change, amendment, portfolio-adjustment
TL;DR
**Norges Bank cut its Neogen stake to 4.7%, watch for potential bearish sentiment.**
AI Summary
Norges Bank, Norway's central bank, filed an amended SC 13G/A on January 30, 2024, indicating its ownership in Neogen Corp. As of December 31, 2023, Norges Bank holds 5,090,300 shares of Neogen's Common Stock, representing 4.7% of the company's outstanding shares. This is a decrease from their previous reported stake, signaling a slight reduction in their investment. For investors, this matters because a major institutional investor like Norges Bank reducing its stake could suggest a shift in their outlook on Neogen's future performance or valuation.
Why It Matters
A reduction in ownership by a significant institutional investor like Norges Bank might signal a less bullish outlook on Neogen's stock, potentially influencing other investors' perceptions and decisions.
Risk Assessment
Risk Level: medium — While not a massive sell-off, a large institutional investor reducing its stake can introduce uncertainty and potentially downward pressure on the stock.
Analyst Insight
Investors should monitor future filings from Norges Bank and other major institutions to see if this reduction is part of a broader trend or an isolated portfolio adjustment, and consider Neogen's fundamentals for any underlying reasons for the change.
Key Numbers
- 5,090,300 — Shares Owned (Norges Bank's beneficial ownership in Neogen Corp as of December 31, 2023.)
- 4.7% — Ownership Percentage (The percentage of Neogen Corp's Common Stock owned by Norges Bank, indicating a slight decrease from previous filings.)
Key Players & Entities
- Norges Bank (company) — the reporting person and institutional investor
- Neogen Corp (company) — the subject company in which shares are held
- 5,090,300 (dollar_amount) — number of shares of Common Stock beneficially owned by Norges Bank
- 4.7% (dollar_amount) — percentage of Neogen Corp's class of securities beneficially owned by Norges Bank
- December 31, 2023 (date) — the date of the event requiring the filing of this statement
- January 30, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- Norges Bank may continue to adjust its stake in Neogen Corp based on market conditions and its investment strategy. (Norges Bank) — medium confidence, target: Q1 2025
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is Norges Bank, identified by the Central Index Key (CIK) 0001374170, which is the central bank of Norway.
What is the subject company of this filing?
The subject company is Neogen Corp, with CIK 0000711377, a company in the 'IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES' industry.
How many shares of Neogen Corp's Common Stock does Norges Bank beneficially own as of the event date?
As of December 31, 2023, Norges Bank beneficially owns 5,090,300 shares of Neogen Corp's Common Stock.
What percentage of Neogen Corp's outstanding shares does Norges Bank's ownership represent?
Norges Bank's beneficial ownership of 5,090,300 shares represents 4.7% of Neogen Corp's class of securities.
When was this amendment (SC 13G/A) filed and what was the 'Date of Event'?
This SC 13G/A amendment was filed on January 30, 2024, and the 'Date of Event which Requires Filing of this Statement' was December 31, 2023.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding NEOGEN CORP (NEOG).