Allspring Global Investments Holdings LLC Takes $3.06 Million Position in MGP Ingredients, Inc. $MGPI

Allspring Global Investments Holdings LLC acquired a new position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 166,606 shares of the company’s stock, valued at approximately $3,064,000. Allspring Global Investments Holdings LLC owned about 0.78% of MGP Ingredients as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Osaic Holdings Inc. raised its position in MGP Ingredients by 130.3% in the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock worth $28,000 after acquiring an additional 529 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of MGP Ingredients by 653.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,304 shares of the company’s stock valued at $32,000 after purchasing an additional 1,131 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of MGP Ingredients in the fourth quarter valued at about $32,000. Quadrant Capital Group LLC lifted its stake in shares of MGP Ingredients by 237.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,830 shares of the company’s stock valued at $44,000 after purchasing an additional 1,287 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in MGP Ingredients by 278.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock worth $56,000 after buying an additional 1,386 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MGPI. Weiss Ratings cut MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Wells Fargo & Company cut their price target on MGP Ingredients from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. TD Cowen decreased their price objective on shares of MGP Ingredients from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, June 26th. Finally, Zacks Research raised shares of MGP Ingredients from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.50.

Insider Buying and Selling at MGP Ingredients

In related news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $17.82, for a total transaction of $534,600.00. Following the completion of the sale, the insider directly owned 500,958 shares of the company’s stock, valued at approximately $8,927,071.56. This represents a 5.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 31.70% of the company’s stock.

MGP Ingredients Trading Up 0.2%

MGPI stock opened at $17.69 on Friday. The company has a quick ratio of 0.56, a current ratio of 2.74 and a debt-to-equity ratio of 0.41. The company has a market cap of $378.04 million, a price-to-earnings ratio of -1.59 and a beta of 0.46. The business has a fifty day simple moving average of $17.13 and a 200-day simple moving average of $19.88. MGP Ingredients, Inc. has a 52 week low of $15.72 and a 52 week high of $31.95.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The firm had revenue of $106.43 million during the quarter, compared to the consensus estimate of $105.32 million. MGP Ingredients had a positive return on equity of 7.48% and a negative net margin of 45.70%.The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. On average, equities research analysts expect that MGP Ingredients, Inc. will post 1.6 EPS for the current year.

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, May 15th. MGP Ingredients’s dividend payout ratio (DPR) is currently -4.31%.

MGP Ingredients Company Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.