MGP Ingredients, Inc. (NASDAQ:MGPI – Get Rating) Director Karen Seaberg sold 5,289 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $94.12, for a total transaction of $497,800.68. Following the completion of the transaction, the director now owns 2,278,529 shares of the company’s stock, valued at approximately $214,455,149.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Karen Seaberg also recently made the following trade(s):
- On Tuesday, March 7th, Karen Seaberg sold 5,126 shares of MGP Ingredients stock. The shares were sold at an average price of $96.41, for a total transaction of $494,197.66.
- On Wednesday, March 1st, Karen Seaberg sold 2,016 shares of MGP Ingredients stock. The shares were sold at an average price of $99.20, for a total transaction of $199,987.20.
- On Monday, February 27th, Karen Seaberg sold 5,217 shares of MGP Ingredients stock. The shares were sold at an average price of $100.26, for a total transaction of $523,056.42.
- On Wednesday, February 1st, Karen Seaberg sold 2,100 shares of MGP Ingredients stock. The shares were sold at an average price of $97.73, for a total transaction of $205,233.00.
- On Tuesday, January 3rd, Karen Seaberg sold 3,500 shares of MGP Ingredients stock. The shares were sold at an average price of $103.39, for a total transaction of $361,865.00.
MGP Ingredients Price Performance
Shares of NASDAQ MGPI opened at $94.62 on Wednesday. MGP Ingredients, Inc. has a twelve month low of $77.57 and a twelve month high of $125.74. The company has a current ratio of 4.31, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 19.27 and a beta of 0.88. The firm has a 50-day moving average of $98.87 and a two-hundred day moving average of $106.72.
MGP Ingredients Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Thursday, March 9th. MGP Ingredients’s dividend payout ratio is presently 9.78%.
Analyst Ratings Changes
Separately, Wells Fargo & Company cut their price target on shares of MGP Ingredients from $128.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, February 2nd.
Institutional Trading of MGP Ingredients
A number of hedge funds have recently bought and sold shares of MGPI. Lord Abbett & CO. LLC lifted its position in shares of MGP Ingredients by 4.6% in the third quarter. Lord Abbett & CO. LLC now owns 117,679 shares of the company’s stock worth $12,493,000 after purchasing an additional 5,186 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of MGP Ingredients by 29.8% in the third quarter. Prudential Financial Inc. now owns 16,727 shares of the company’s stock worth $1,741,000 after purchasing an additional 3,845 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of MGP Ingredients by 26.6% in the third quarter. Russell Investments Group Ltd. now owns 58,215 shares of the company’s stock worth $6,178,000 after purchasing an additional 12,216 shares in the last quarter. Raymond James & Associates purchased a new stake in shares of MGP Ingredients in the third quarter worth approximately $264,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of MGP Ingredients in the second quarter worth approximately $109,000. 78.64% of the stock is owned by hedge funds and other institutional investors.
About MGP Ingredients
MGP Ingredients, Inc engages in the manufacture and trade of food, beverage, specialty wheat protein and starch food ingredients. It operates through the following segments: Distillery Products, Branded Spirits and Ingredient Solutions. The Distillery Products segment consists of food grade alcohol and distillery co-products, such as distillers feed and fuel grade alcohol.
- Get a free copy of the StockNews.com research report on MGP Ingredients (MGPI)
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