MGP Ingredients, Inc. $MGPI Stock Holdings Lifted by Rhumbline Advisers

Rhumbline Advisers raised its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 24.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 51,780 shares of the company’s stock after buying an additional 10,316 shares during the quarter. Rhumbline Advisers owned approximately 0.24% of MGP Ingredients worth $1,521,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in MGP Ingredients by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,145,485 shares of the company’s stock valued at $33,654,000 after acquiring an additional 19,316 shares in the last quarter. Ariel Investments LLC raised its holdings in shares of MGP Ingredients by 4.5% in the 1st quarter. Ariel Investments LLC now owns 626,058 shares of the company’s stock worth $18,394,000 after purchasing an additional 27,155 shares in the last quarter. Millennium Management LLC raised its holdings in shares of MGP Ingredients by 116.6% in the 1st quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock worth $10,571,000 after purchasing an additional 193,660 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of MGP Ingredients in the fourth quarter valued at $12,932,000. Finally, Federated Hermes Inc. raised its holdings in MGP Ingredients by 576.4% during the 1st quarter. Federated Hermes Inc. now owns 262,329 shares of the company’s stock worth $7,707,000 after buying an additional 223,548 shares during the period. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Up 0.1%

MGP Ingredients stock opened at $27.61 on Friday. The firm’s 50 day moving average price is $29.15 and its two-hundred day moving average price is $29.84. MGP Ingredients, Inc. has a twelve month low of $25.12 and a twelve month high of $85.61. The firm has a market cap of $587.90 million, a PE ratio of -89.06 and a beta of 0.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 2.91.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, July 31st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. MGP Ingredients had a negative net margin of 1.08% and a positive return on equity of 10.66%. The business had revenue of $145.49 million for the quarter, compared to analyst estimates of $138.70 million. During the same period last year, the business posted $1.71 EPS. MGP Ingredients’s revenue was down 23.7% compared to the same quarter last year. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. On average, research analysts predict that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. MGP Ingredients’s dividend payout ratio is presently -154.84%.

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.