MGP Ingredients, Inc. (NASDAQ:MGPI) Director Sells $191,678.40 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Lori L.S. Mingus sold 2,430 shares of MGP Ingredients stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $78.88, for a total transaction of $191,678.40. Following the completion of the transaction, the director now directly owns 47,287 shares in the company, valued at approximately $3,729,998.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

MGP Ingredients Trading Down 1.1 %

Shares of MGP Ingredients stock opened at $75.23 on Friday. The company has a quick ratio of 1.97, a current ratio of 6.32 and a debt-to-equity ratio of 0.34. MGP Ingredients, Inc. has a 12-month low of $74.86 and a 12-month high of $124.96. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.11 and a beta of 0.75. The firm’s 50-day moving average price is $80.95 and its two-hundred day moving average price is $86.97.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The business had revenue of $170.56 million during the quarter, compared to the consensus estimate of $170.31 million. MGP Ingredients had a return on equity of 14.78% and a net margin of 11.91%. MGP Ingredients’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.39 EPS. On average, analysts forecast that MGP Ingredients, Inc. will post 6.19 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, May 16th. MGP Ingredients’s payout ratio is 11.09%.

Analyst Ratings Changes

A number of research firms have recently commented on MGPI. Wedbush restated an “outperform” rating and set a $120.00 price objective on shares of MGP Ingredients in a research note on Monday, April 29th. StockNews.com lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Finally, Roth Mkm cut their price target on shares of MGP Ingredients from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, May 3rd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. LRI Investments LLC bought a new stake in shares of MGP Ingredients in the first quarter worth $43,000. Kingdon Capital Management L.L.C. grew its position in shares of MGP Ingredients by 56.8% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 86,250 shares of the company’s stock valued at $7,429,000 after buying an additional 31,250 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of MGP Ingredients by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,533 shares of the company’s stock valued at $391,000 after buying an additional 578 shares during the period. Ariel Investments LLC bought a new position in shares of MGP Ingredients during the first quarter worth about $23,059,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of MGP Ingredients by 8.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 13,520 shares of the company’s stock worth $1,163,000 after acquiring an additional 1,045 shares during the period. Institutional investors own 77.11% 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.