MGP Ingredients, Inc. $MGPI Stock Holdings Boosted by Villanova Investment Management Co

Villanova Investment Management Co raised its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 51.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,356 shares of the company’s stock after acquiring an additional 32,030 shares during the quarter. Villanova Investment Management Co’s holdings in MGP Ingredients were worth $1,250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MGPI. Bank of America Corp DE purchased a new stake in shares of MGP Ingredients during the second quarter worth about $1,857,000. PDT Partners LLC bought a new stake in shares of MGP Ingredients in the second quarter worth about $1,582,000. BlackRock Inc. bought a new stake in shares of MGP Ingredients in the second quarter worth about $22,258,000. Arrowstreet Capital Limited Partnership purchased a new position in MGP Ingredients during the 1st quarter valued at about $2,725,000. Finally, Tieton Capital Management LLC purchased a new position in MGP Ingredients during the 2nd quarter valued at about $11,252,000. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Trading Down 1.9%

NASDAQ:MGPI opened at $16.79 on Friday. The company has a 50-day moving average price of $14.92 and a 200-day moving average price of $18.17. MGP Ingredients, Inc. has a 12 month low of $12.42 and a 12 month high of $26.62. The company has a current ratio of 6.91, a quick ratio of 1.65 and a debt-to-equity ratio of 0.56. The stock has a market cap of $359.50 million, a price-to-earnings ratio of -1.44 and a beta of 0.49.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. MGP Ingredients had a negative net margin of 51.12% and a positive return on equity of 6.58%. The company had revenue of $117.91 million for the quarter, compared to analysts’ expectations of $119.70 million. During the same quarter in the previous year, the company earned $0.85 earnings per share. MGP Ingredients’s quarterly revenue was down 9.9% on a year-over-year basis. Equities analysts predict that MGP Ingredients, Inc. will post 1.70 EPS for the current year.

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.48 annualized dividend and a yield of 2.9%. MGP Ingredients’s dividend payout ratio (DPR) is -4.12%.

Insider Activity

In other MGP Ingredients news, insider Leslie Lux sold 27,731 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $14.40, for a total transaction of $399,326.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul S. Lux sold 33,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $17.76, for a total value of $586,080.00. Following the completion of the transaction, the insider directly owned 550,458 shares of the company’s stock, valued at $9,776,134.08. This represents a 5.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 31.70% of the company’s stock.

Analysts Set New Price Targets

MGPI has been the subject of a number of recent analyst reports. Roth Capital lowered their price target on MGP Ingredients from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 16th. Weiss Ratings cut MGP Ingredients from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 29th. Wells Fargo & Company lifted their price objective on MGP Ingredients from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Finally, TD Cowen boosted their target price on MGP Ingredients from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.25.

MGP Ingredients Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a producer and marketer of distilled spirits and specialty food and beverage ingredients. The company operates distilleries and processing facilities that manufacture bourbon, rye whiskey, vodka, gin, tequila and other distilled products, as well as grain-based alcohol and related ingredients.

The company serves customers through both its Distilling Solutions and Branded Spirits businesses. Its branded portfolio includes products such as Ezra Brooks, Yellowstone, Daviess County, El Mayor and Everclear, while its distilling operations supply spirits and alcohol to beverage companies and other commercial customers.