Lori L.S. Mingus Sells 2,430 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Lori L.S. Mingus sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $78.88, for a total transaction of $191,678.40. Following the completion of the transaction, the director now directly owns 47,287 shares of the company’s stock, valued at approximately $3,729,998.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

MGP Ingredients Stock Down 1.1 %

Shares of NASDAQ:MGPI opened at $75.23 on Friday. The stock has a market capitalization of $1.66 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 1.11 and a beta of 0.75. The stock’s 50-day moving average price is $80.95 and its 200-day moving average price is $86.97. The company has a current ratio of 6.32, a quick ratio of 1.97 and a debt-to-equity ratio of 0.34. MGP Ingredients, Inc. has a 12-month low of $74.86 and a 12-month high of $124.96.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. MGP Ingredients had a return on equity of 14.78% and a net margin of 11.91%. The business had revenue of $170.56 million for the quarter, compared to analyst estimates of $170.31 million. During the same period last year, the company earned $1.39 EPS. MGP Ingredients’s revenue for the quarter was down 15.1% compared to the same quarter last year. On average, equities analysts anticipate that MGP Ingredients, Inc. will post 6.19 earnings per share for the current year.

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Thursday, May 16th. MGP Ingredients’s payout ratio is 11.09%.

Wall Street Analysts Forecast Growth

MGPI has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $120.00 price target on shares of MGP Ingredients in a research note on Monday, April 29th. Roth Mkm cut their target price on MGP Ingredients from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, StockNews.com downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Friday, April 26th.

Institutional Investors Weigh In On MGP Ingredients

Several institutional investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its holdings in shares of MGP Ingredients by 594.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 19,030 shares of the company’s stock worth $1,875,000 after purchasing an additional 16,290 shares during the period. Tudor Investment Corp Et Al purchased a new stake in MGP Ingredients in the 3rd quarter worth approximately $2,985,000. Victory Capital Management Inc. grew its position in shares of MGP Ingredients by 58.0% in the 3rd quarter. Victory Capital Management Inc. now owns 217,403 shares of the company’s stock worth $22,932,000 after buying an additional 79,791 shares during the last quarter. KLR Investment Advisors LLC increased its stake in shares of MGP Ingredients by 5.8% during the third quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock valued at $282,000 after buying an additional 159 shares during the period. Finally, Peterson Wealth Services bought a new position in shares of MGP Ingredients during the fourth quarter valued at approximately $221,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.