MGP Ingredients Inc (MGPI) Director Sells $30,652.00 in Stock
MGP Ingredients Inc (NASDAQ:MGPI) Director Daryl Schaller sold 388 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $79.00, for a total value of $30,652.00. Following the sale, the director now directly owns 2,851 shares in the company, valued at approximately $225,229. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Daryl Schaller also recently made the following trade(s):
- On Tuesday, March 13th, Daryl Schaller sold 19,612 shares of MGP Ingredients stock. The stock was sold at an average price of $80.08, for a total value of $1,570,528.96.
Shares of MGP Ingredients Inc (NASDAQ MGPI) traded down $0.33 during trading on Wednesday, hitting $78.65. The company had a trading volume of 1,682 shares, compared to its average volume of 153,631. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.24 and a quick ratio of 1.00. MGP Ingredients Inc has a 1 year low of $47.64 and a 1 year high of $90.34. The firm has a market cap of $1,317.16, a P/E ratio of 43.56, a P/E/G ratio of 2.44 and a beta of 1.09.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from MGP Ingredients’s previous quarterly dividend of $0.04. This represents a $0.32 annualized dividend and a yield of 0.41%. MGP Ingredients’s payout ratio is 13.17%.
Several research analysts recently issued reports on the company. Stifel Nicolaus cut their price objective on MGP Ingredients from $76.00 to $73.00 and set a “hold” rating for the company in a research report on Tuesday, March 6th. Zacks Investment Research upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Craig Hallum restated a “buy” rating and set a $105.00 price objective (up from $90.00) on shares of MGP Ingredients in a research report on Monday, January 29th. BidaskClub downgraded MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 9th. Finally, Sidoti upgraded MGP Ingredients from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $87.33.
A number of institutional investors and hedge funds have recently modified their holdings of MGPI. Earnest Partners LLC acquired a new position in MGP Ingredients in the 4th quarter valued at $115,000. SG Americas Securities LLC acquired a new position in MGP Ingredients in the 3rd quarter valued at $128,000. Advisor Group Inc. raised its holdings in MGP Ingredients by 636.1% in the 4th quarter. Advisor Group Inc. now owns 2,488 shares of the company’s stock valued at $191,000 after acquiring an additional 2,150 shares during the last quarter. Millennium Management LLC acquired a new position in MGP Ingredients in the 4th quarter valued at $219,000. Finally, Gamco Investors INC. ET AL acquired a new position in MGP Ingredients in the 4th quarter valued at $228,000. Institutional investors own 95.31% of the company’s stock.
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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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