MGP Ingredients, Inc. (MGPI) to Issue Quarterly Dividend of $0.12 on May 31st

MGP Ingredients, Inc. (NASDAQ:MGPI) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.12 per share on Friday, May 31st. This represents a $0.48 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, May 16th.

MGP Ingredients has a payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MGP Ingredients to earn $6.81 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 7.0%.

MGP Ingredients Stock Performance

NASDAQ MGPI opened at $80.62 on Friday. The company has a fifty day moving average of $81.84 and a two-hundred day moving average of $88.79. The company has a market capitalization of $1.77 billion, a PE ratio of 18.62, a P/E/G ratio of 1.21 and a beta of 0.75. MGP Ingredients has a 1 year low of $75.78 and a 1 year high of $124.96. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.32 and a quick ratio of 1.47.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, May 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The firm had revenue of $170.56 million during the quarter, compared to analysts’ expectations of $170.31 million. MGP Ingredients had a return on equity of 14.78% and a net margin of 11.91%. The business’s revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. As a group, analysts expect that MGP Ingredients will post 6.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com cut shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Wedbush restated an “outperform” rating and issued a $120.00 price objective on shares of MGP Ingredients in a research note on Monday, April 29th. Finally, Roth Mkm decreased their price objective on MGP Ingredients from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Friday.

Insider Transactions at MGP Ingredients

In other MGP Ingredients news, VP Erika Lapish acquired 500 shares of the stock in a transaction on Monday, February 26th. The shares were bought at an average price of $77.86 per share, with a total value of $38,930.00. Following the acquisition, the vice president now owns 550 shares of the company’s stock, valued at $42,823. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 36.20% of the company’s stock.

About MGP Ingredients

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.