4,080 Shares in MGP Ingredients, Inc. (NASDAQ:MGPI) Bought by Semanteon Capital Management LP

Semanteon Capital Management LP purchased a new position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,080 shares of the company’s stock, valued at approximately $402,000.

A number of other hedge funds have also recently added to or reduced their stakes in MGPI. Global Retirement Partners LLC lifted its holdings in MGP Ingredients by 464.8% during the fourth quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock valued at $37,000 after purchasing an additional 330 shares in the last quarter. Legacy Financial Group LLC purchased a new position in MGP Ingredients during the third quarter valued at $61,000. Quantbot Technologies LP lifted its holdings in MGP Ingredients by 99.9% during the third quarter. Quantbot Technologies LP now owns 1,641 shares of the company’s stock valued at $173,000 after purchasing an additional 820 shares in the last quarter. Cerity Partners LLC lifted its holdings in MGP Ingredients by 9.3% during the fourth quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock valued at $215,000 after purchasing an additional 186 shares in the last quarter. Finally, Peterson Wealth Services purchased a new position in MGP Ingredients during the fourth quarter valued at $221,000. 77.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGP Ingredients

In related news, VP Erika Lapish purchased 500 shares of the company’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the transaction, the vice president now directly owns 550 shares in the company, valued at $42,823. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 28.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MGPI. Roth Mkm decreased their price objective on shares of MGP Ingredients from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Finally, Wedbush reissued an “outperform” rating and issued a $120.00 price target on shares of MGP Ingredients in a research note on Wednesday, April 10th.

MGP Ingredients Trading Up 1.7 %

MGP Ingredients stock traded up $1.36 during midday trading on Friday, hitting $80.54. 167,790 shares of the stock were exchanged, compared to its average volume of 207,539. MGP Ingredients, Inc. has a fifty-two week low of $75.78 and a fifty-two week high of $124.96. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.15 and a beta of 0.76. The stock’s 50-day simple moving average is $82.67 and its 200 day simple moving average is $89.64. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, February 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.26. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The firm had revenue of $214.90 million during the quarter, compared to analysts’ expectations of $206.87 million. During the same period last year, the business earned $1.01 earnings per share. MGP Ingredients’s revenue was up 12.6% compared to the same quarter last year. On average, equities analysts anticipate that MGP Ingredients, Inc. will post 6.18 EPS for the current year.

MGP Ingredients Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, March 14th. MGP Ingredients’s dividend payout ratio is presently 10.00%.

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.