MGP Ingredients, Inc. (NASDAQ:MGPI) Director Sells $247,260.00 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 3,000 shares of the stock in a transaction dated Monday, January 10th. The shares were sold at an average price of $82.42, for a total value of $247,260.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Karen Seaberg also recently made the following trade(s):

  • On Monday, January 3rd, Karen Seaberg sold 742 shares of MGP Ingredients stock. The stock was sold at an average price of $84.90, for a total value of $62,995.80.
  • On Monday, December 13th, Karen Seaberg sold 1,208 shares of MGP Ingredients stock. The stock was sold at an average price of $82.82, for a total value of $100,046.56.
  • On Wednesday, November 10th, Karen Seaberg sold 4,000 shares of MGP Ingredients stock. The stock was sold at an average price of $68.47, for a total value of $273,880.00.

Shares of NASDAQ:MGPI opened at $84.26 on Friday. The business’s 50 day simple moving average is $81.55 and its two-hundred day simple moving average is $70.83. The firm has a market cap of $1.85 billion, a P/E ratio of 23.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.30 and a current ratio of 4.07. MGP Ingredients, Inc. has a 52-week low of $51.27 and a 52-week high of $89.50.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Wednesday, November 3rd. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.69. The business had revenue of $176.61 million for the quarter, compared to analyst estimates of $148.10 million. MGP Ingredients had a return on equity of 18.70% and a net margin of 12.61%. During the same quarter in the prior year, the company earned $0.61 earnings per share. On average, equities analysts forecast that MGP Ingredients, Inc. will post 4.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Friday, November 19th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, November 18th. This represents a $0.48 annualized dividend and a yield of 0.57%. MGP Ingredients’s payout ratio is currently 13.41%.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of MGP Ingredients by 7.6% in the second quarter. BlackRock Inc. now owns 2,233,291 shares of the company’s stock valued at $151,059,000 after purchasing an additional 158,203 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in shares of MGP Ingredients by 26.3% in the third quarter. Stephens Investment Management Group LLC now owns 1,087,209 shares of the company’s stock valued at $70,777,000 after purchasing an additional 226,370 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of MGP Ingredients by 1.6% in the second quarter. Vanguard Group Inc. now owns 931,727 shares of the company’s stock valued at $63,022,000 after purchasing an additional 14,972 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of MGP Ingredients by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 662,004 shares of the company’s stock valued at $43,098,000 after purchasing an additional 2,218 shares in the last quarter. Finally, Copeland Capital Management LLC lifted its holdings in shares of MGP Ingredients by 1.9% in the third quarter. Copeland Capital Management LLC now owns 490,001 shares of the company’s stock valued at $31,899,000 after purchasing an additional 9,056 shares in the last quarter. Institutional investors own 75.98% of the company’s stock.

Several equities research analysts recently commented on the company. Truist Securities raised MGP Ingredients from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $100.00 in a research note on Monday, November 29th. Truist raised MGP Ingredients from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $100.00 in a research note on Monday, November 29th. Finally, Zacks Investment Research cut MGP Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 5th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, MGP Ingredients currently has an average rating of “Buy” and a consensus target price of $85.25.

About MGP Ingredients

MGP Ingredients, Inc engages in the manufacture and trade of food, beverage, specialty wheat protein and starch food ingredients. It operates through the following segments: Distillery Products and Ingredient Solutions. The Distillery Products segment consists of food grade alcohol and distillery co-products, such as distillers feed and fuel grade alcohol.

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

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