MGP Ingredients, Inc. (NASDAQ:MGPI) Director Lori L.S. Mingus Sells 1,745 Shares of Stock

MGP Ingredients, Inc. (NASDAQ:MGPIGet Rating) Director Lori L.S. Mingus sold 1,745 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $114.96, for a total value of $200,605.20. Following the transaction, the director now owns 14,179 shares of the company’s stock, valued at $1,630,017.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Lori L.S. Mingus also recently made the following trade(s):

  • On Friday, July 1st, Lori L.S. Mingus sold 1,800 shares of MGP Ingredients stock. The stock was sold at an average price of $100.54, for a total value of $180,972.00.

MGP Ingredients Price Performance

Shares of MGPI stock opened at $109.24 on Tuesday. The stock’s fifty day moving average is $108.65 and its 200-day moving average is $97.92. The stock has a market capitalization of $2.40 billion, a PE ratio of 20.53 and a beta of 0.99. MGP Ingredients, Inc. has a 52 week low of $61.09 and a 52 week high of $117.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.60 and a current ratio of 4.53.

MGP Ingredients (NASDAQ:MGPIGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.27. The business had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $173.06 million. MGP Ingredients had a return on equity of 16.09% and a net margin of 16.12%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 earnings per share. Equities research analysts expect that MGP Ingredients, Inc. will post 4.68 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.44%. The ex-dividend date was Thursday, August 18th. MGP Ingredients’s dividend payout ratio is 9.02%.

Hedge Funds Weigh In On MGP Ingredients

Hedge funds have recently added to or reduced their stakes in the company. ZWJ Investment Counsel Inc. boosted its holdings in MGP Ingredients by 6.5% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 30,280 shares of the company’s stock valued at $2,573,000 after acquiring an additional 1,835 shares during the last quarter. Diversified Trust Co boosted its holdings in MGP Ingredients by 8.6% during the first quarter. Diversified Trust Co now owns 8,200 shares of the company’s stock worth $702,000 after buying an additional 650 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in MGP Ingredients by 13.3% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,232,322 shares of the company’s stock worth $104,735,000 after buying an additional 145,113 shares during the last quarter. Leeward Investments LLC MA bought a new position in MGP Ingredients during the first quarter worth about $13,469,000. Finally, State of Tennessee Treasury Department boosted its holdings in MGP Ingredients by 161.0% during the first quarter. State of Tennessee Treasury Department now owns 11,093 shares of the company’s stock worth $950,000 after buying an additional 6,842 shares during the last quarter. Institutional investors own 79.27% of the company’s stock.

Analyst Upgrades and Downgrades

MGPI has been the topic of several research analyst reports. Roth Capital initiated coverage on MGP Ingredients in a report on Thursday, June 30th. They set a “buy” rating and a $115.00 target price on the stock. Wells Fargo & Company initiated coverage on MGP Ingredients in a report on Monday, August 15th. They set an “overweight” rating and a $126.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

About MGP Ingredients

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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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Insider Buying and Selling by Quarter for MGP Ingredients (NASDAQ:MGPI)

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