MGP Ingredients, Inc. (NASDAQ:MGPI) Stock Holdings Lowered by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 93.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,364 shares of the company’s stock after selling 396,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.12% of MGP Ingredients worth $1,038,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in MGP Ingredients by 56.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company’s stock valued at $75,000 after buying an additional 687 shares during the period. Quarry LP acquired a new position in MGP Ingredients during the 4th quarter valued at $75,000. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of MGP Ingredients by 58.3% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,996 shares of the company’s stock valued at $79,000 after buying an additional 735 shares in the last quarter. AlphaQuest LLC raised its stake in shares of MGP Ingredients by 1,167.8% in the 4th quarter. AlphaQuest LLC now owns 3,778 shares of the company’s stock valued at $149,000 after buying an additional 3,480 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of MGP Ingredients by 21.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,662 shares of the company’s stock worth $223,000 after purchasing an additional 1,015 shares in the last quarter. 77.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Lake Street Capital upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating and dropped their target price for the stock from $55.00 to $45.00 in a report on Thursday, February 27th. Wall Street Zen lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Saturday, May 10th. Finally, Truist Financial cut their price objective on shares of MGP Ingredients from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, MGP Ingredients currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.33.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Martin Roper acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average price of $33.10 per share, for a total transaction of $496,500.00. Following the acquisition, the director now directly owns 18,180 shares in the company, valued at $601,758. This represents a 471.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karen Seaberg sold 28,304 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $30.82, for a total transaction of $872,329.28. Following the completion of the transaction, the director now owns 283,569 shares of the company’s stock, valued at approximately $8,739,596.58. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,417 shares of company stock worth $905,556 in the last quarter. 36.20% of the stock is owned by insiders.

MGP Ingredients Price Performance

NASDAQ:MGPI opened at $29.02 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The firm’s fifty day moving average price is $29.72 and its two-hundred day moving average price is $34.07. MGP Ingredients, Inc. has a one year low of $25.12 and a one year high of $92.52. The company has a market cap of $617.31 million, a P/E ratio of 6.03 and a beta of 0.32.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.36 earnings per share for the quarter, topping 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 business had revenue of $121.65 million during the quarter, compared to analysts’ expectations of $119.14 million. During the same quarter in the prior year, the business posted $1.07 earnings per share. MGP Ingredients’s revenue was down 28.7% compared to the same quarter last year. Equities analysts expect that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.12 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.65%. MGP Ingredients’s dividend payout ratio (DPR) is currently 106.67%.

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.