MGP Ingredients Inc (NASDAQ:MGPI) VP K. Pigott Thomas bought 1,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were purchased at an average cost of $65.91 per share, with a total value of $65,910.00. Following the completion of the transaction, the vice president now owns 31,432 shares in the company, valued at $2,071,683.12. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
MGPI opened at $68.78 on Friday. The firm has a market capitalization of $1.16 billion, a PE ratio of 36.78 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.07 and a quick ratio of 1.69. MGP Ingredients Inc has a 12 month low of $64.06 and a 12 month high of $99.73.
MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The firm had revenue of $95.00 million during the quarter, compared to analyst estimates of $93.08 million. MGP Ingredients had a return on equity of 19.23% and a net margin of 10.48%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. Research analysts expect that MGP Ingredients Inc will post 2.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 14th. MGP Ingredients’s payout ratio is 17.11%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price Capital Management Inc. bought a new position in shares of MGP Ingredients in the 3rd quarter worth $126,000. PNC Financial Services Group Inc. raised its position in shares of MGP Ingredients by 1,684.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the company’s stock worth $182,000 after acquiring an additional 1,937 shares in the last quarter. Kessler Investment Group LLC bought a new position in shares of MGP Ingredients in the 2nd quarter worth $191,000. United Services Automobile Association bought a new position in shares of MGP Ingredients in the 2nd quarter worth $218,000. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of MGP Ingredients in the 3rd quarter worth $199,000. 98.10% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on MGPI. BidaskClub lowered MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Zacks Investment Research lowered MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, ValuEngine lowered MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $87.33.
About MGP Ingredients
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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