American Century Companies Inc. Has $7.25 Million Stake in MGP Ingredients Inc (MGPI)
American Century Companies Inc. lifted its position in MGP Ingredients Inc (NASDAQ:MGPI) by 32.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 127,139 shares of the company’s stock after purchasing an additional 30,985 shares during the quarter. American Century Companies Inc.’s holdings in MGP Ingredients were worth $7,253,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of MGP Ingredients by 4.0% in the 4th quarter. Victory Capital Management Inc. now owns 4,236 shares of the company’s stock worth $242,000 after purchasing an additional 164 shares during the last quarter. Texas Permanent School Fund grew its holdings in shares of MGP Ingredients by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 8,273 shares of the company’s stock worth $472,000 after purchasing an additional 322 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of MGP Ingredients by 437.4% in the 4th quarter. Bank of Montreal Can now owns 489 shares of the company’s stock worth $28,000 after purchasing an additional 398 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in MGP Ingredients by 8.5% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 7,243 shares of the company’s stock worth $413,000 after buying an additional 570 shares in the last quarter. Finally, BB&T Corp lifted its position in MGP Ingredients by 14.4% during the 4th quarter. BB&T Corp now owns 4,695 shares of the company’s stock worth $268,000 after buying an additional 590 shares in the last quarter. 98.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ MGPI opened at $77.69 on Thursday. The stock has a market cap of $1.32 billion, a P/E ratio of 35.80 and a beta of 1.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.22 and a current ratio of 4.13. MGP Ingredients Inc has a 12-month low of $53.66 and a 12-month high of $100.00.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Wednesday, March 13th were given a dividend of $0.10 per share. This is an increase from MGP Ingredients’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.40 annualized dividend and a yield of 0.51%. MGP Ingredients’s dividend payout ratio is 18.43%.
In other MGP Ingredients news, VP David E. Dykstra sold 5,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $82.18, for a total transaction of $410,900.00. Following the transaction, the vice president now directly owns 29,396 shares in the company, valued at approximately $2,415,763.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Karen Seaberg sold 1,546 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $77.75, for a total transaction of $120,201.50. Following the transaction, the director now owns 12,682 shares in the company, valued at $986,025.50. The disclosure for this sale can be found here. 22.19% of the stock is owned by corporate insiders.
Several brokerages recently issued reports on MGPI. Zacks Investment Research upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Saturday, March 2nd. BidaskClub downgraded shares of MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Finally, SunTrust Banks reduced their price target on shares of MGP Ingredients to $90.00 and set a “buy” rating on the stock in a research report on Thursday, December 13th.
MGP Ingredients 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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