American International Group Inc. increased its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI – Free Report) by 9.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,494 shares of the company’s stock after buying an additional 743 shares during the period. American International Group Inc.’s holdings in MGP Ingredients were worth $903,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC increased its holdings in MGP Ingredients by 8.8% during the first quarter. FMR LLC now owns 1,763 shares of the company’s stock worth $171,000 after buying an additional 142 shares during the last quarter. Moody National Bank Trust Division increased its stake in shares of MGP Ingredients by 1.5% in the second quarter. Moody National Bank Trust Division now owns 10,024 shares of the company’s stock worth $1,065,000 after purchasing an additional 151 shares in the last quarter. Bank of Montreal Can increased its stake in shares of MGP Ingredients by 4.6% in the first quarter. Bank of Montreal Can now owns 3,769 shares of the company’s stock worth $331,000 after purchasing an additional 165 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of MGP Ingredients by 2.3% in the second quarter. AQR Capital Management LLC now owns 7,735 shares of the company’s stock worth $774,000 after purchasing an additional 175 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of MGP Ingredients by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,448 shares of the company’s stock worth $260,000 after purchasing an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.
In other news, insider Paul S. Lux sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $118.84, for a total value of $1,188,400.00. Following the completion of the transaction, the insider now directly owns 593,458 shares in the company, valued at $70,526,548.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other MGP Ingredients news, Director Karen Seaberg sold 1,073 shares of MGP Ingredients stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $93.20, for a total transaction of $100,003.60. Following the completion of the sale, the director now directly owns 155,975 shares in the company, valued at $14,536,870. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul S. Lux sold 10,000 shares of MGP Ingredients stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $118.84, for a total transaction of $1,188,400.00. Following the sale, the insider now owns 593,458 shares of the company’s stock, valued at $70,526,548.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,547 shares of company stock worth $4,532,209. 28.70% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
MGP Ingredients Price Performance
MGPI stock opened at $94.16 on Thursday. The firm has a 50 day moving average of $100.98 and a 200-day moving average of $105.88. The company has a current ratio of 5.59, a quick ratio of 1.79 and a debt-to-equity ratio of 0.38. MGP Ingredients, Inc. has a 12 month low of $90.68 and a 12 month high of $125.74. The firm has a market capitalization of $2.07 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 1.50 and a beta of 0.97.
MGP Ingredients Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.51%. MGP Ingredients’s dividend payout ratio (DPR) is currently 10.86%.
About MGP Ingredients
MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients in the United States and internationally. It operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions. The Distillery Solutions segment provides food grade alcohol for beverage applications that include bourbon and rye, whiskeys, as well as grain neutral spirits, include 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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