Aviva PLC Takes $917,000 Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Aviva PLC bought a new stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,622 shares of the company’s stock, valued at approximately $917,000.

Other large investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. bought a new stake in MGP Ingredients during the fourth quarter valued at approximately $32,000. Captrust Financial Advisors grew its position in MGP Ingredients by 76.2% during the first quarter. Captrust Financial Advisors now owns 953 shares of the company’s stock valued at $82,000 after buying an additional 412 shares during the period. SG Americas Securities LLC bought a new stake in MGP Ingredients during the third quarter valued at approximately $112,000. PNC Financial Services Group Inc. lifted its holdings in MGP Ingredients by 22.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,400 shares of the company’s stock valued at $120,000 after purchasing an additional 254 shares in the last quarter. Finally, CWM LLC lifted its holdings in MGP Ingredients by 3,088.7% during the fourth quarter. CWM LLC now owns 1,690 shares of the company’s stock valued at $180,000 after purchasing an additional 1,637 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

Insider Transactions at MGP Ingredients

In other news, Director Karen Seaberg sold 5,217 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $100.26, for a total value of $523,056.42. Following the transaction, the director now owns 55,850 shares of the company’s stock, valued at $5,599,521. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 28,494 shares of company stock valued at $2,714,607. 28.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on MGPI. Wells Fargo & Company lowered their price target 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. StockNews.com began coverage on shares of MGP Ingredients in a report on Thursday. They set a “hold” rating on the stock.

MGP Ingredients Price Performance

MGPI stock opened at $103.26 on Monday. MGP Ingredients, Inc. has a one year low of $89.01 and a one year high of $125.74. The company’s fifty day moving average price is $97.25 and its 200-day moving average price is $103.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 4.65. The company has a market capitalization of $2.27 billion, a PE ratio of 22.40 and a beta of 0.89.

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

MGP Ingredients Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, May 18th. MGP Ingredients’s dividend payout ratio (DPR) is presently 10.41%.

MGP Ingredients 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.