Yousif Capital Management LLC Cuts Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Yousif Capital Management LLC lessened its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,973 shares of the company’s stock after selling 690 shares during the quarter. Yousif Capital Management LLC’s holdings in MGP Ingredients were worth $588,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mariner LLC raised its stake in MGP Ingredients by 0.3% in the third quarter. Mariner LLC now owns 54,569 shares of the company’s stock valued at $5,756,000 after buying an additional 142 shares during the last quarter. KLR Investment Advisors LLC grew its position in MGP Ingredients by 5.8% during the 3rd quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock worth $282,000 after purchasing an additional 159 shares during the last quarter. Cerity Partners LLC grew its position in MGP Ingredients by 9.3% during the 4th quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock worth $215,000 after purchasing an additional 186 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in MGP Ingredients by 2.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 9,366 shares of the company’s stock valued at $923,000 after purchasing an additional 206 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of MGP Ingredients by 3.0% in the third quarter. Assetmark Inc. now owns 8,662 shares of the company’s stock worth $914,000 after buying an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, VP Erika Lapish bought 500 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the transaction, the vice president now directly owns 550 shares of the company’s stock, valued at $42,823. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 36.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

MGP Ingredients Price Performance

Shares of MGPI opened at $80.62 on Monday. The company has a market capitalization of $1.77 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.19 and a beta of 0.75. The business’s 50-day moving average is $81.84 and its two-hundred day moving average is $88.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.47 and a current ratio of 6.32. MGP Ingredients, Inc. has a fifty-two week low of $75.78 and a fifty-two week high of $124.96.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly 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. MGP Ingredients had a return on equity of 14.78% and a net margin of 11.91%. The company had revenue of $170.56 million during the quarter, compared to the consensus estimate of $170.31 million. During the same period in the previous year, the company posted $1.39 earnings per share. MGP Ingredients’s revenue for the quarter was down 15.1% on a year-over-year basis. Research analysts predict that MGP Ingredients, Inc. will post 6.18 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.48 annualized dividend and a yield of 0.60%. MGP Ingredients’s dividend payout ratio is presently 11.09%.

MGP Ingredients 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.