MGP Ingredients, Inc. (MGPI) Shares Bought by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC grew its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 67.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,774 shares of the company’s stock after purchasing an additional 3,535 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.05% of MGP Ingredients worth $449,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in MGP Ingredients by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,165 shares of the company’s stock worth $111,000 after acquiring an additional 325 shares during the period. Suntrust Banks Inc. acquired a new position in MGP Ingredients during the second quarter worth about $208,000. Aperio Group LLC acquired a new position in MGP Ingredients during the second quarter worth about $240,000. Principal Financial Group Inc. grew its holdings in MGP Ingredients by 15.0% during the second quarter. Principal Financial Group Inc. now owns 6,101 shares of the company’s stock worth $312,000 after acquiring an additional 798 shares during the period. Finally, UBS Group AG grew its holdings in MGP Ingredients by 2.0% during the first quarter. UBS Group AG now owns 7,024 shares of the company’s stock worth $381,000 after acquiring an additional 137 shares during the period.
A number of research analysts recently issued reports on MGPI shares. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of MGP Ingredients in a report on Friday, November 3rd. Zacks Investment Research upgraded MGP Ingredients from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. MGP Ingredients currently has a consensus rating of “Buy” and an average price target of $71.33.
Shares of MGP Ingredients, Inc. (MGPI) opened at $74.25 on Friday. MGP Ingredients, Inc. has a 1 year low of $41.16 and a 1 year high of $78.02. The company has a market capitalization of $1,241.83, a PE ratio of 42.92, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 4.45.
MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.45. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The firm had revenue of $86.30 million during the quarter, compared to analyst estimates of $83.57 million. During the same period last year, the company posted $0.55 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. equities analysts predict that MGP Ingredients, Inc. will post 2.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.22%. MGP Ingredients’s payout ratio is presently 7.37%.
In other MGP Ingredients news, Director Karen Seaberg sold 934 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $57.30, for a total transaction of $53,518.20. Following the completion of the sale, the director now directly owns 10,591 shares in the company, valued at approximately $606,864.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daryl Schaller sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $72.58, for a total value of $1,451,600.00. Following the sale, the director now owns 2,851 shares of the company’s stock, valued at $206,925.58. The disclosure for this sale can be found here. Insiders have sold a total of 28,731 shares of company stock valued at $2,026,838 over the last 90 days. Corporate insiders own 23.50% of the company’s stock.
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MGP Ingredients 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.
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