MGP Ingredients Inc (NASDAQ:MGPI) – Investment analysts at SunTrust Banks cut their Q2 2020 EPS estimates for MGP Ingredients in a report issued on Wednesday, June 24th. SunTrust Banks analyst W. Chappell now anticipates that the company will earn $0.47 per share for the quarter, down from their previous estimate of $0.50. SunTrust Banks currently has a “Buy” rating and a $45.00 target price on the stock. SunTrust Banks also issued estimates for MGP Ingredients’ FY2020 earnings at $2.42 EPS.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.26. MGP Ingredients had a net margin of 10.37% and a return on equity of 17.47%. The firm had revenue of $99.10 million during the quarter, compared to analysts’ expectations of $87.77 million. During the same quarter last year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year.

Other equities analysts have also recently issued reports about the company. National Securities began coverage on MGP Ingredients in a report on Tuesday, April 14th. They issued a “buy” rating and a $50.00 target price for the company. Zacks Investment Research raised MGP Ingredients from a “sell” rating to a “hold” rating and set a $42.00 target price for the company in a report on Wednesday, April 29th. Finally, BidaskClub cut MGP Ingredients from a “buy” rating to a “hold” rating in a report on Thursday, June 4th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.25.

Shares of MGPI opened at $35.34 on Monday. MGP Ingredients has a 1 year low of $21.64 and a 1 year high of $69.90. The company has a current ratio of 5.86, a quick ratio of 2.41 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $36.44 and a 200-day simple moving average of $36.49. The stock has a market cap of $597.09 million, a PE ratio of 15.57 and a beta of 1.69.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new stake in shares of MGP Ingredients in the 1st quarter valued at $37,000. Advisor Group Inc. increased its stake in shares of MGP Ingredients by 672.5% in the 4th quarter. Advisor Group Inc. now owns 842 shares of the company’s stock valued at $41,000 after buying an additional 733 shares during the period. Group One Trading L.P. acquired a new stake in shares of MGP Ingredients in the 1st quarter valued at $27,000. FinTrust Capital Advisors LLC acquired a new stake in shares of MGP Ingredients in the 1st quarter valued at $30,000. Finally, FNY Investment Advisers LLC boosted its position in shares of MGP Ingredients by 38.2% in the 1st quarter. FNY Investment Advisers LLC now owns 1,273 shares of the company’s stock worth $34,000 after purchasing an additional 352 shares during the last quarter. 95.60% of the stock is owned by institutional investors.

In related news, Director Karen Seaberg sold 10,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $38.17, for a total transaction of $381,700.00. Following the completion of the sale, the director now directly owns 3,977 shares of the company’s stock, valued at approximately $151,802.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 23,021 shares of company stock valued at $881,396 over the last ninety days. Insiders own 24.06% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 1.36%. MGP Ingredients’s dividend payout ratio is 21.15%.

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.

Further Reading: Net Income

Earnings History and Estimates for MGP Ingredients (NASDAQ:MGPI)

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