MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 21.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,662 shares of the company’s stock after buying an additional 1,015 shares during the period. Price T Rowe Associates Inc. MD’s holdings in MGP Ingredients were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of MGP Ingredients by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 1,126,169 shares of the company’s stock worth $44,337,000 after buying an additional 7,471 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of MGP Ingredients by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 914,854 shares of the company’s stock worth $36,017,000 after buying an additional 57,714 shares during the last quarter. Wasatch Advisors LP acquired a new stake in shares of MGP Ingredients during the 4th quarter worth approximately $28,388,000. Massachusetts Financial Services Co. MA increased its holdings in shares of MGP Ingredients by 16.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 579,067 shares of the company’s stock worth $22,798,000 after buying an additional 83,445 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of MGP Ingredients by 90.0% during the 4th quarter. Marshall Wace LLP now owns 340,453 shares of the company’s stock worth $13,404,000 after buying an additional 161,295 shares during the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of MGPI stock opened at $32.79 on Friday. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. MGP Ingredients, Inc. has a 52 week low of $25.12 and a 52 week high of $92.52. The stock has a market capitalization of $697.51 million, a PE ratio of 6.82 and a beta of 0.32. The firm has a 50 day moving average of $29.67 and a two-hundred day moving average of $36.34.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The company had revenue of $121.65 million during the quarter, compared to analysts’ expectations of $119.14 million. During the same quarter last year, the company posted $1.07 EPS. The firm’s revenue was down 28.7% compared to the same quarter last year. On average, research analysts predict that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.48 annualized dividend and a yield of 1.46%. MGP Ingredients’s dividend payout ratio is presently 106.67%.

Wall Street Analysts Forecast Growth

MGPI has been the subject of several research reports. Truist Financial dropped their target price on shares of MGP Ingredients from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Lake Street Capital upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating and dropped their target price for the company from $55.00 to $45.00 in a report on Thursday, February 27th. StockNews.com downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Saturday, May 10th. Finally, Wells Fargo & Company dropped their target price on shares of MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.33.

Insider Buying and Selling at MGP Ingredients

In related news, Director Martin Roper purchased 15,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $33.10 per share, for a total transaction of $496,500.00. Following the purchase, the director now directly owns 18,180 shares of the company’s stock, valued at $601,758. The trade was a 471.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Seaberg purchased 5,348 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $32.59 per share, for a total transaction of $174,291.32. Following the completion of the purchase, the director now directly owns 358,899 shares in the company, valued at $11,696,518.41. This represents a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 29,417 shares of company stock valued at $905,556 in the last 90 days. Company insiders own 36.20% of the company’s stock.

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.