MGP Ingredients Inc (NASDAQ:MGPI) VP K. Pigott Thomas purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average price of $65.91 per share, with a total value of $65,910.00. Following the completion of the acquisition, the vice president now directly owns 31,432 shares in the company, valued at $2,071,683.12. The purchase was disclosed in a filing with the SEC, which is available through this link.
NASDAQ:MGPI opened at $67.96 on Friday. MGP Ingredients Inc has a 52 week low of $64.06 and a 52 week high of $99.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.07 and a quick ratio of 1.69. The firm has a market cap of $1.17 billion, a P/E ratio of 34.20 and a beta of 1.13.
MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. The company had revenue of $95.00 million during the quarter, compared to analyst estimates of $93.08 million. MGP Ingredients had a net margin of 10.48% and a return on equity of 19.23%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 EPS. Equities research analysts expect that MGP Ingredients Inc will post 2.03 EPS for the current fiscal year.
A number of equities research analysts recently commented on MGPI shares. BidaskClub upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Saturday, September 1st. ValuEngine upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $87.33.
A number of institutional investors have recently modified their holdings of MGPI. Conestoga Capital Advisors LLC increased its position in MGP Ingredients by 51.4% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,117,274 shares of the company’s stock valued at $88,242,000 after purchasing an additional 379,431 shares during the period. BlackRock Inc. increased its position in MGP Ingredients by 8.4% during the 2nd quarter. BlackRock Inc. now owns 1,782,058 shares of the company’s stock valued at $158,264,000 after purchasing an additional 137,338 shares during the period. Pembroke Management LTD increased its position in MGP Ingredients by 74.8% during the 3rd quarter. Pembroke Management LTD now owns 272,141 shares of the company’s stock valued at $21,494,000 after purchasing an additional 116,441 shares during the period. Principal Financial Group Inc. increased its position in MGP Ingredients by 1,601.0% during the 1st quarter. Principal Financial Group Inc. now owns 103,522 shares of the company’s stock valued at $9,275,000 after purchasing an additional 97,436 shares during the period. Finally, Jennison Associates LLC increased its position in MGP Ingredients by 25.0% during the 3rd quarter. Jennison Associates LLC now owns 303,406 shares of the company’s stock valued at $23,963,000 after purchasing an additional 60,650 shares during the period. 98.10% of the stock is currently owned by institutional investors and hedge funds.
MGP Ingredients Company Profile
MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.
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