Ariel Investments LLC Has $21.55 Million Stock Holdings in MGP Ingredients, Inc. $MGPI

Ariel Investments LLC grew its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 14.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 719,144 shares of the company’s stock after buying an additional 93,086 shares during the quarter. Ariel Investments LLC owned 3.38% of MGP Ingredients worth $21,553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MGP Ingredients by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,446 shares of the company’s stock worth $248,000 after acquiring an additional 390 shares during the last quarter. Aigen Investment Management LP increased its holdings in MGP Ingredients by 6.8% during the 1st quarter. Aigen Investment Management LP now owns 6,900 shares of the company’s stock worth $203,000 after purchasing an additional 440 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of MGP Ingredients by 4.8% in the second quarter. Prudential Financial Inc. now owns 14,608 shares of the company’s stock worth $438,000 after purchasing an additional 666 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of MGP Ingredients by 1.3% in the second quarter. Rhumbline Advisers now owns 52,446 shares of the company’s stock valued at $1,572,000 after purchasing an additional 666 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of MGP Ingredients by 2,365.7% during the first quarter. Brooklyn Investment Group now owns 863 shares of the company’s stock valued at $25,000 after buying an additional 828 shares during the last quarter. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Trading Up 1.5%

Shares of MGPI stock opened at $24.39 on Wednesday. The company has a 50 day moving average of $24.19 and a 200-day moving average of $27.47. The company has a quick ratio of 0.69, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. MGP Ingredients, Inc. has a 12-month low of $21.67 and a 12-month high of $47.07. The firm has a market cap of $519.26 million, a P/E ratio of -36.40 and a beta of 0.39.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.62 by $0.23. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.The business had revenue of $130.91 million for the quarter, compared to the consensus estimate of $128.33 million. During the same quarter in the prior year, the business earned $1.29 earnings per share. MGP Ingredients’s revenue for the quarter was down 18.9% on a year-over-year basis. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. Sell-side analysts anticipate that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, November 14th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. MGP Ingredients’s dividend payout ratio is presently -71.64%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MGPI. Wells Fargo & Company lowered their price target on MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Weiss Ratings restated a “sell (d)” rating on shares of MGP Ingredients in a report on Wednesday, October 8th. Finally, TD Cowen reduced their price objective on shares of MGP Ingredients from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Insiders Place Their Bets

In related news, major shareholder Caroline Lux Kaplan sold 30,000 shares of MGP Ingredients stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $23.85, for a total value of $715,500.00. Following the completion of the sale, the insider owned 560,958 shares of the company’s stock, valued at approximately $13,378,848.30. This trade represents a 5.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 34.40% 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.