Mutual of America Capital Management LLC Has $1.88 Million Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Mutual of America Capital Management LLC increased its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 594.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,030 shares of the company’s stock after buying an additional 16,290 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MGP Ingredients were worth $1,875,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MGPI. BlackRock Inc. grew its position in MGP Ingredients by 13.8% during the second quarter. BlackRock Inc. now owns 2,873,795 shares of the company’s stock worth $305,427,000 after buying an additional 349,237 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of MGP Ingredients in the 1st quarter valued at $7,549,000. Vanguard Group Inc. boosted its holdings in shares of MGP Ingredients by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,092,288 shares of the company’s stock valued at $115,956,000 after purchasing an additional 86,892 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of MGP Ingredients by 999.3% in the 1st quarter. Two Sigma Investments LP now owns 89,743 shares of the company’s stock valued at $8,680,000 after purchasing an additional 81,579 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of MGP Ingredients by 58.0% in the 3rd quarter. Victory Capital Management Inc. now owns 217,403 shares of the company’s stock valued at $22,932,000 after purchasing an additional 79,791 shares in the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MGPI. Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price on shares of MGP Ingredients in a report on Wednesday, April 10th. StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Thursday.

MGP Ingredients Stock Up 0.4 %

Shares of MGPI opened at $79.75 on Friday. MGP Ingredients, Inc. has a 52 week low of $75.78 and a 52 week high of $124.96. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.17 and a beta of 0.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 4.51. The stock has a fifty day moving average of $83.31 and a 200-day moving average of $90.19.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.26. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The company had revenue of $214.90 million during the quarter, compared to analysts’ expectations of $206.87 million. During the same period in the prior year, the company earned $1.01 EPS. MGP Ingredients’s revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that MGP Ingredients, Inc. will post 6.18 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, March 14th. MGP Ingredients’s dividend payout ratio is currently 10.00%.

Insider Buying and Selling

In related news, VP Erika Lapish bought 500 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $77.86 per share, with a total value of $38,930.00. Following the transaction, the vice president now directly owns 550 shares in the company, valued at $42,823. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 28.70% of the stock is owned by corporate insiders.

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.