Neuberger Berman Group LLC cut its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,245,553 shares of the company’s stock after selling 4,715 shares during the quarter. Neuberger Berman Group LLC owned approximately 7.45% of MGP Ingredients worth $75,518,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. NTV Asset Management LLC grew its position in shares of MGP Ingredients by 2.2% during the second quarter. NTV Asset Management LLC now owns 14,100 shares of the company’s stock valued at $411,000 after purchasing an additional 300 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of MGP Ingredients by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,165 shares of the company’s stock valued at $111,000 after purchasing an additional 325 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of MGP Ingredients by 4.9% during the second quarter. The Manufacturers Life Insurance Company now owns 10,302 shares of the company’s stock valued at $527,000 after purchasing an additional 478 shares in the last quarter. Teachers Advisors LLC grew its position in shares of MGP Ingredients by 2.2% during the first quarter. Teachers Advisors LLC now owns 22,829 shares of the company’s stock valued at $1,238,000 after purchasing an additional 496 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of MGP Ingredients by 4.8% during the second quarter. Advisors Asset Management Inc. now owns 12,839 shares of the company’s stock valued at $657,000 after purchasing an additional 583 shares in the last quarter.

A number of research analysts have recently weighed in on MGPI shares. Zacks Investment Research upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub lowered MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 9th. Stifel Nicolaus started coverage on MGP Ingredients in a research report on Tuesday, December 5th. They set a “hold” rating and a $73.00 price objective for the company. Finally, SunTrust Banks restated a “buy” rating on shares of MGP Ingredients in a research report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $71.75.

In related news, Director Karen Seaberg sold 20,000 shares of MGP Ingredients stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $73.90, for a total value of $1,478,000.00. Following the completion of the transaction, the director now owns 10,591 shares in the company, valued at $782,674.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 47,797 shares of company stock valued at $3,451,320. 23.50% of the stock is currently owned by company insiders.

MGP Ingredients, Inc. (MGPI) opened at $72.96 on Friday. The firm has a market capitalization of $1,235.12, a PE ratio of 42.69, a PEG ratio of 2.24 and a beta of 0.95. The company has a current ratio of 4.45, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21. MGP Ingredients, Inc. has a 12-month low of $41.16 and a 12-month high of $78.02.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.45. The firm had revenue of $86.30 million during the quarter, compared to analyst estimates of $83.57 million. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. sell-side analysts forecast that MGP Ingredients, Inc. will post 2.2 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Tuesday, November 14th were given a $0.04 dividend. The ex-dividend date was Monday, November 13th. This represents a $0.16 annualized dividend and a yield of 0.22%. MGP Ingredients’s dividend payout ratio is currently 7.37%.

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MGP Ingredients Company Profile

MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.

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

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