MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC increased its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,186 shares of the company’s stock after buying an additional 186 shares during the period. Cerity Partners LLC’s holdings in MGP Ingredients were worth $215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mutual of America Capital Management LLC increased its position in MGP Ingredients by 594.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 19,030 shares of the company’s stock worth $1,875,000 after purchasing an additional 16,290 shares during the last quarter. Wakefield Asset Management LLLP increased its position in MGP Ingredients by 50.4% during the fourth quarter. Wakefield Asset Management LLLP now owns 9,461 shares of the company’s stock worth $932,000 after purchasing an additional 3,170 shares during the last quarter. Global Retirement Partners LLC increased its position in MGP Ingredients by 464.8% during the fourth quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock worth $37,000 after purchasing an additional 330 shares during the last quarter. Diversified Trust Co increased its position in MGP Ingredients by 19.3% during the fourth quarter. Diversified Trust Co now owns 7,250 shares of the company’s stock worth $714,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Tudor Investment Corp Et Al acquired a new position in MGP Ingredients during the third quarter worth approximately $2,985,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MGPI. Wedbush reaffirmed an “outperform” rating and set a $120.00 price target on shares of MGP Ingredients in a research report on Monday. Roth Mkm decreased their price objective on shares of MGP Ingredients from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, StockNews.com downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Friday.

MGP Ingredients Price Performance

MGPI opened at $81.54 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 4.51 and a debt-to-equity ratio of 0.33. MGP Ingredients, Inc. has a 52-week low of $75.78 and a 52-week high of $124.96. The company has a 50 day moving average of $82.46 and a two-hundred day moving average of $89.30. The company has a market cap of $1.79 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.19 and a beta of 0.76.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate 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 net margin of 12.72% and a return on equity of 16.03%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. On average, analysts expect that MGP Ingredients, Inc. will post 6.18 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.12 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. MGP Ingredients’s dividend payout ratio (DPR) is presently 10.00%.

Insider Activity

In other news, VP Erika Lapish bought 500 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the purchase, the vice president now owns 550 shares of the company’s stock, valued at $42,823. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 28.70% of the company’s stock.

MGP Ingredients Company 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.