Thrivent Financial for Lutherans Sells 122 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Thrivent Financial for Lutherans trimmed its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI – Get Rating) by 0.8% during the fourth quarter, HoldingsChannel reports. The firm owned 15,792 shares of the company’s stock after selling 122 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MGP Ingredients were worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of MGPI. BlackRock Inc. raised its holdings in shares of MGP Ingredients by 13.4% in the 3rd quarter. BlackRock Inc. now owns 2,395,249 shares of the company’s stock worth $254,280,000 after purchasing an additional 282,537 shares during the period. Congress Asset Management Co. MA bought a new stake in shares of MGP Ingredients in the 4th quarter worth approximately $17,231,000. Lord Abbett & CO. LLC bought a new stake in MGP Ingredients in the 1st quarter valued at about $7,549,000. Vanguard Group Inc. raised its stake in MGP Ingredients by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,092,288 shares of the company’s stock valued at $115,956,000 after acquiring an additional 86,892 shares during the period. Finally, State Street Corp raised its stake in MGP Ingredients by 10.6% in the 3rd quarter. State Street Corp now owns 493,284 shares of the company’s stock valued at $52,367,000 after acquiring an additional 47,348 shares during the period. Institutional investors own 78.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MGPI. StockNews.com began coverage on MGP Ingredients in a research note on Thursday. They issued a “hold” rating on the stock. Wells Fargo & Company lowered their target price on shares of MGP Ingredients from $128.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, February 2nd.

MGP Ingredients Trading Up 1.3 %

Shares of MGP Ingredients stock opened at $103.26 on Friday. The company’s 50-day moving average price is $97.25 and its 200-day moving average price is $103.28. The company has a current ratio of 4.65, a quick ratio of 1.63 and a debt-to-equity ratio of 0.29. MGP Ingredients, Inc. has a 12-month low of $89.01 and a 12-month high of $125.74. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 22.40 and a beta of 0.89.

MGP Ingredients (NASDAQ:MGPI – Get Rating) last posted its earnings results on Thursday, May 4th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.29. MGP Ingredients had a net margin of 12.97% and a return on equity of 13.86%. The business had revenue of $201.01 million for the quarter, compared to analyst estimates of $194.43 million. During the same quarter in the prior year, the firm posted $1.69 EPS. MGP Ingredients’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts expect that MGP Ingredients, Inc. will post 5.21 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, May 18th. MGP Ingredients’s dividend payout ratio is 10.41%.

Insider Buying and Selling

In other MGP Ingredients news, Director Karen Seaberg sold 5,217 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $100.26, for a total value of $523,056.42. Following the transaction, the director now directly owns 55,850 shares in the company, valued at approximately $5,599,521. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 28,494 shares of company stock worth $2,714,607 over the last ninety days. 28.70% of the stock is owned by corporate insiders.

MGP Ingredients Company Profile

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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.