MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. trimmed its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPIGet Rating) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,116 shares of the company’s stock after selling 873 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in MGP Ingredients were worth $544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MGPI. Penserra Capital Management LLC lifted its holdings in shares of MGP Ingredients by 4.6% in the 3rd quarter. Penserra Capital Management LLC now owns 2,080 shares of the company’s stock valued at $220,000 after purchasing an additional 91 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of MGP Ingredients by 1.8% in the 3rd quarter. IFP Advisors Inc now owns 7,412 shares of the company’s stock worth $696,000 after acquiring an additional 130 shares during the period. Arizona State Retirement System grew its holdings in shares of MGP Ingredients by 3.8% in the 4th quarter. Arizona State Retirement System now owns 3,723 shares of the company’s stock worth $396,000 after acquiring an additional 138 shares during the period. Bank of Montreal Can grew its holdings in MGP Ingredients by 4.6% during the 1st quarter. Bank of Montreal Can now owns 3,769 shares of the company’s stock valued at $331,000 after buying an additional 165 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in MGP Ingredients by 9.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,954 shares of the company’s stock valued at $208,000 after buying an additional 168 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

MGP Ingredients Price Performance

Shares of NASDAQ:MGPI opened at $101.98 on Thursday. MGP Ingredients, Inc. has a one year low of $89.01 and a one year high of $125.74. The stock has a fifty day moving average of $97.91 and a 200-day moving average of $103.19. The company has a market capitalization of $2.24 billion, a PE ratio of 22.12 and a beta of 0.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 4.65.

MGP Ingredients (NASDAQ:MGPIGet Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $201.01 million for the quarter, compared to the consensus estimate of $194.43 million. During the same period in the previous year, the business earned $1.69 EPS. The company’s revenue was up 3.0% on a year-over-year basis. As a group, equities analysts anticipate that MGP Ingredients, Inc. will post 5.21 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

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 issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, May 18th. MGP Ingredients’s dividend payout ratio is presently 10.41%.

Analysts Set New Price Targets

MGPI has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on MGP Ingredients in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Wells Fargo & Company lowered their target price on MGP Ingredients from $128.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, February 2nd.

Insider Buying and Selling at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 2,016 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $99.20, for a total transaction of $199,987.20. Following the completion of the sale, the director now directly owns 165,256 shares in the company, valued at $16,393,395.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 28,494 shares of company stock worth $2,714,607 over the last ninety days. Company insiders own 28.70% of the company’s stock.

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.

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Institutional Ownership by Quarter for MGP Ingredients (NASDAQ:MGPI)

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