AdvisorShares Investments LLC cut its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI – Get Rating) by 51.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,800 shares of the company’s stock after selling 3,000 shares during the quarter. AdvisorShares Investments LLC’s holdings in MGP Ingredients were worth $240,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MGPI. Fifth Third Bancorp grew its stake in shares of MGP Ingredients by 64.5% in the fourth quarter. Fifth Third Bancorp now owns 403 shares of the company’s stock valued at $34,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in MGP Ingredients by 40.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 596 shares of the company’s stock valued at $51,000 after purchasing an additional 173 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in MGP Ingredients by 0.8% in the fourth quarter. Public Sector Pension Investment Board now owns 25,499 shares of the company’s stock valued at $2,167,000 after purchasing an additional 200 shares during the last quarter. Steward Financial Group LLC purchased a new position in MGP Ingredients in the fourth quarter valued at about $27,000. Finally, New York State Teachers Retirement System boosted its holdings in MGP Ingredients by 3.6% in the first quarter. New York State Teachers Retirement System now owns 11,380 shares of the company’s stock valued at $974,000 after purchasing an additional 400 shares during the last quarter. 77.38% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other MGP Ingredients news, Director Karen Seaberg sold 1,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $105.63, for a total transaction of $105,630.00. Following the transaction, the director now owns 61,632 shares of the company’s stock, valued at approximately $6,510,188.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Lori L.S. Mingus sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $100.54, for a total value of $180,972.00. Following the sale, the director now owns 15,924 shares of the company’s stock, valued at approximately $1,600,998.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Karen Seaberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $105.63, for a total value of $105,630.00. Following the completion of the sale, the director now owns 61,632 shares in the company, valued at $6,510,188.16. The disclosure for this sale can be found here. Insiders have sold a total of 11,202 shares of company stock valued at $1,120,098 in the last quarter. Insiders own 36.70% of the company’s stock.
Analysts Set New Price Targets
MGP Ingredients Trading Up 1.9 %
Shares of MGPI opened at $109.03 on Friday. The company has a market capitalization of $2.40 billion, a P/E ratio of 20.49 and a beta of 1.01. MGP Ingredients, Inc. has a one year low of $60.43 and a one year high of $109.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.61 and a current ratio of 4.53. The stock has a 50-day moving average price of $99.16 and a 200 day moving average price of $90.48.
MGP Ingredients (NASDAQ:MGPI – Get Rating) last released its earnings results on Thursday, August 4th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.27. MGP Ingredients had a return on equity of 16.09% and a net margin of 16.12%. The company had revenue of $195.00 million for the quarter, compared to the consensus estimate of $173.06 million. During the same quarter last year, the business posted $1.27 EPS. MGP Ingredients’s quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts forecast that MGP Ingredients, Inc. will post 4.41 EPS for the current fiscal year.
MGP Ingredients Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 19th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, August 18th. MGP Ingredients’s dividend payout ratio is presently 9.02%.
MGP Ingredients Profile
MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients. It operates through three segments: Distillery Products; Branded Spirits; and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food-grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.
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