MGP Ingredients Inc (NASDAQ:MGPI) VP Stephen J. Glaser sold 1,200 shares of the business’s stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $81.56, for a total transaction of $97,872.00. Following the completion of the transaction, the vice president now owns 16,795 shares of the company’s stock, valued at approximately $1,369,800.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

MGP Ingredients stock traded up $4.96 during trading on Thursday, hitting $85.32. 853,971 shares of the stock traded hands, compared to its average volume of 165,220. The stock has a market cap of $1,401.49, a PE ratio of 46.35, a P/E/G ratio of 2.60 and a beta of 1.09. MGP Ingredients Inc has a 1-year low of $47.64 and a 1-year high of $90.34. The company has a current ratio of 3.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.14.

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MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, March 1st. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. The business had revenue of $88.20 million during the quarter, compared to analysts’ expectations of $85.44 million. MGP Ingredients had a net margin of 11.71% and a return on equity of 18.76%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. sell-side analysts expect that MGP Ingredients Inc will post 2.14 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be given a dividend of $0.08 per share. This is a boost from MGP Ingredients’s previous quarterly dividend of $0.04. This represents a $0.32 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, March 8th. MGP Ingredients’s payout ratio is 13.17%.

Several institutional investors have recently added to or reduced their stakes in MGPI. Parametric Portfolio Associates LLC lifted its position in shares of MGP Ingredients by 67.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 8,774 shares of the company’s stock worth $449,000 after purchasing an additional 3,535 shares during the last quarter. State Street Corp lifted its position in shares of MGP Ingredients by 5.3% during the 2nd quarter. State Street Corp now owns 234,916 shares of the company’s stock worth $12,019,000 after purchasing an additional 11,752 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of MGP Ingredients by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,302 shares of the company’s stock worth $527,000 after purchasing an additional 478 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of MGP Ingredients by 108.7% during the 3rd quarter. New York State Common Retirement Fund now owns 29,634 shares of the company’s stock worth $1,797,000 after purchasing an additional 15,434 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in MGP Ingredients by 13.1% in the third quarter. Bank of New York Mellon Corp now owns 142,994 shares of the company’s stock valued at $8,669,000 after acquiring an additional 16,604 shares during the last quarter. 95.31% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of MGP Ingredients from a “buy” rating to a “sell” rating in a research note on Thursday, February 22nd. Stifel Nicolaus dropped their price target on shares of MGP Ingredients from $76.00 to $73.00 and set a “hold” rating for the company in a research note on Tuesday, March 6th. Sidoti raised shares of MGP Ingredients from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 31st. Craig Hallum reaffirmed a “buy” rating and set a $105.00 price objective (up from $90.00) on shares of MGP Ingredients in a research report on Monday, January 29th. Finally, BidaskClub cut shares of MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. MGP Ingredients currently has a consensus rating of “Buy” and a consensus price target of $87.33.

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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.

Insider Buying and Selling by Quarter for MGP Ingredients (NASDAQ:MGPI)

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