Manatuck Hill Partners LLC Has $14.41 Million Stake in MGP Ingredients Inc (MGPI)

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Manatuck Hill Partners LLC trimmed its holdings in MGP Ingredients Inc (NASDAQ:MGPI) by 15.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,300 shares of the company’s stock after selling 30,300 shares during the quarter. MGP Ingredients accounts for 5.8% of Manatuck Hill Partners LLC’s portfolio, making the stock its 3rd largest holding. Manatuck Hill Partners LLC owned approximately 0.96% of MGP Ingredients worth $14,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MGPI. BlackRock Inc. lifted its holdings in shares of MGP Ingredients by 94.9% during the first quarter. BlackRock Inc. now owns 1,644,720 shares of the company’s stock valued at $147,350,000 after acquiring an additional 800,658 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of MGP Ingredients by 1,601.0% during the first quarter. Principal Financial Group Inc. now owns 103,522 shares of the company’s stock valued at $9,275,000 after acquiring an additional 97,436 shares during the period. Jennison Associates LLC lifted its holdings in shares of MGP Ingredients by 26.4% during the second quarter. Jennison Associates LLC now owns 242,756 shares of the company’s stock valued at $21,559,000 after acquiring an additional 50,671 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of MGP Ingredients by 15.1% during the first quarter. Loomis Sayles & Co. L P now owns 254,076 shares of the company’s stock valued at $22,763,000 after acquiring an additional 33,243 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of MGP Ingredients by 82.3% during the first quarter. Wells Fargo & Company MN now owns 66,784 shares of the company’s stock valued at $5,983,000 after acquiring an additional 30,140 shares during the period. 99.41% of the stock is owned by institutional investors.

In other MGP Ingredients news, Director George W. Page, Jr. bought 10,000 shares of the stock in a transaction dated Tuesday, August 28th. The stock was bought at an average cost of $72.36 per share, for a total transaction of $723,600.00. Following the completion of the purchase, the director now owns 931 shares in the company, valued at approximately $67,367.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Seaberg sold 4,611 shares of the firm’s stock in a transaction on Thursday, June 28th. The shares were sold at an average price of $89.56, for a total value of $412,961.16. Following the completion of the sale, the director now owns 11,864 shares of the company’s stock, valued at $1,062,539.84. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 16,000 shares of company stock valued at $1,176,250 and sold 6,267 shares valued at $542,958. Company insiders own 22.19% of the company’s stock.

A number of research analysts have issued reports on the company. BidaskClub raised MGP Ingredients from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. ValuEngine cut MGP Ingredients from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. MGP Ingredients has a consensus rating of “Hold” and an average target price of $87.33.

Shares of NASDAQ:MGPI opened at $77.46 on Thursday. MGP Ingredients Inc has a twelve month low of $57.05 and a twelve month high of $99.73. The firm has a market capitalization of $1.30 billion, a PE ratio of 41.42 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.70 and a quick ratio of 1.34.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, August 2nd. The company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.03). MGP Ingredients had a net margin of 12.13% and a return on equity of 18.65%. The business had revenue of $88.25 million during the quarter, compared to analyst estimates of $90.65 million. During the same quarter last year, the business posted $0.37 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. equities analysts anticipate that MGP Ingredients Inc will post 2.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Thursday, August 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. MGP Ingredients’s dividend payout ratio (DPR) is presently 17.11%.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.

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Institutional Ownership by Quarter for MGP Ingredients (NASDAQ:MGPI)

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