Federated Hermes Inc. Has $22.27 Million Stock Holdings in MGP Ingredients, Inc. $MGPI

Federated Hermes Inc. lifted its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 183.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 743,214 shares of the company’s stock after purchasing an additional 480,885 shares during the period. Federated Hermes Inc. owned approximately 3.49% of MGP Ingredients worth $22,274,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in MGP Ingredients by 56.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,000 shares of the company’s stock valued at $88,000 after buying an additional 1,087 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of MGP Ingredients during the first quarter valued at $332,000. Vanguard Group Inc. boosted its holdings in MGP Ingredients by 1.7% in the first 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 during the last quarter. Charles Schwab Investment Management Inc. increased its position in MGP Ingredients by 28.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 168,534 shares of the company’s stock worth $4,952,000 after purchasing an additional 36,951 shares during the period. Finally, Deutsche Bank AG raised its holdings in MGP Ingredients by 1,564.2% during the 1st quarter. Deutsche Bank AG now owns 214,060 shares of the company’s stock worth $6,289,000 after purchasing an additional 201,197 shares during the last quarter. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Stock Up 1.5%

NASDAQ:MGPI opened at $24.39 on Wednesday. The stock has a market cap of $519.26 million, a price-to-earnings ratio of -36.40 and a beta of 0.39. The company has a current ratio of 2.78, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $24.19 and a two-hundred day moving average price of $27.47. MGP Ingredients, Inc. has a 1 year low of $21.67 and a 1 year high of $47.07.

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

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, November 14th. MGP Ingredients’s dividend payout ratio (DPR) is currently -71.64%.

Insider Buying and Selling

In other MGP Ingredients news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.85, for a total value of $715,500.00. Following the sale, the insider owned 560,958 shares in the company, valued at approximately $13,378,848.30. The trade was a 5.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 34.40% of the company’s stock.

Analyst Ratings Changes

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

MGP Ingredients Company 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.