MGP Ingredients Inc (NASDAQ:MGPI) VP Michael Rodger Buttshaw sold 700 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $77.62, for a total transaction of $54,334.00. Following the completion of the transaction, the vice president now owns 12,790 shares in the company, valued at approximately $992,759.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of MGP Ingredients Inc (MGPI) traded up $1.10 during midday trading on Wednesday, hitting $80.08. 49,200 shares of the stock were exchanged, compared to its average volume of 154,586. The firm has a market cap of $1,317.16, a PE ratio of 43.56, a price-to-earnings-growth ratio of 2.44 and a beta of 1.09. MGP Ingredients Inc has a twelve month low of $47.64 and a twelve month high of $90.34. The company has a quick ratio of 1.00, a current ratio of 3.24 and a debt-to-equity ratio of 0.14.
MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Thursday, March 1st. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. The business had revenue of $88.20 million for the quarter, compared to analysts’ expectations of $85.44 million. MGP Ingredients had a net margin of 11.71% and a return on equity of 18.76%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. equities analysts forecast that MGP Ingredients Inc will post 2.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be paid a dividend of $0.08 per share. This is a boost from MGP Ingredients’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. MGP Ingredients’s dividend payout ratio (DPR) is presently 13.17%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Earnest Partners LLC acquired a new stake in shares of MGP Ingredients during the 4th quarter worth approximately $115,000. SG Americas Securities LLC acquired a new stake in shares of MGP Ingredients during the 3rd quarter worth approximately $128,000. Advisor Group Inc. grew its stake in shares of MGP Ingredients by 636.1% during the 4th quarter. Advisor Group Inc. now owns 2,488 shares of the company’s stock worth $191,000 after purchasing an additional 2,150 shares during the period. Millennium Management LLC acquired a new stake in shares of MGP Ingredients during the 4th quarter worth approximately $219,000. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of MGP Ingredients during the 4th quarter worth approximately $228,000. 95.31% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of MGP Ingredients from $76.00 to $73.00 and set a “hold” rating on the stock in a report on Tuesday, March 6th. Zacks Investment Research upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Sidoti upgraded shares of MGP Ingredients from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. Craig Hallum reiterated a “buy” rating and issued a $105.00 price target (up previously from $90.00) on shares of MGP Ingredients in a report on Monday, January 29th. Finally, BidaskClub downgraded shares of MGP Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $87.33.
MGP Ingredients Company Profile
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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