Schechter Investment Advisors LLC Sells 1,359 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Schechter Investment Advisors LLC reduced its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 9.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,320 shares of the company’s stock after selling 1,359 shares during the period. Schechter Investment Advisors LLC’s holdings in MGP Ingredients were worth $1,214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of MGP Ingredients by 13.8% during the second quarter. BlackRock Inc. now owns 2,873,795 shares of the company’s stock valued at $305,427,000 after buying an additional 349,237 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of MGP Ingredients during the first quarter worth about $7,549,000. Vanguard Group Inc. grew its holdings in shares of MGP Ingredients by 8.6% during the third quarter. Vanguard Group Inc. now owns 1,092,288 shares of the company’s stock worth $115,956,000 after purchasing an additional 86,892 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of MGP Ingredients by 999.3% during the first quarter. Two Sigma Investments LP now owns 89,743 shares of the company’s stock worth $8,680,000 after purchasing an additional 81,579 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of MGP Ingredients by 58.0% during the third quarter. Victory Capital Management Inc. now owns 217,403 shares of the company’s stock worth $22,932,000 after purchasing an additional 79,791 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors.

MGP Ingredients Price Performance

Shares of MGP Ingredients stock opened at $85.80 on Thursday. The business has a 50 day moving average of $85.16 and a 200 day moving average of $93.09. The company has a quick ratio of 1.47, a current ratio of 4.51 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.89 billion, a PE ratio of 17.88, a P/E/G ratio of 1.22 and a beta of 0.75. MGP Ingredients, Inc. has a 52 week low of $75.78 and a 52 week high of $124.96.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.26. The business had revenue of $214.90 million during the quarter, compared to the consensus estimate of $206.87 million. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, equities research analysts forecast that MGP Ingredients, Inc. will post 6.18 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. MGP Ingredients’s dividend payout ratio (DPR) is 10.00%.

Insider Transactions at MGP Ingredients

In related news, VP Erika Lapish bought 500 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average cost of $77.86 per share, with a total value of $38,930.00. Following the completion of the purchase, the vice president now owns 550 shares in the company, valued at approximately $42,823. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Karen Seaberg sold 2,544 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $99.68, for a total value of $253,585.92. Following the sale, the director now directly owns 55,377 shares of the company’s stock, valued at $5,519,979.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Erika Lapish acquired 500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the transaction, the vice president now directly owns 550 shares of the company’s stock, valued at $42,823. The disclosure for this purchase can be found here. Insiders own 28.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MGPI. Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price on shares of MGP Ingredients in a research note on Friday, March 22nd. StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a report on Thursday, March 21st.

MGP Ingredients Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.