Squarepoint Ops LLC Takes $491,000 Position in MGP Ingredients Inc (MGPI)
Squarepoint Ops LLC bought a new position in MGP Ingredients Inc (NASDAQ:MGPI) in the 4th quarter, HoldingsChannel.com reports. The fund bought 8,607 shares of the company’s stock, valued at approximately $491,000.
Several other institutional investors and hedge funds have also recently modified their holdings of MGPI. Bank of Montreal Can boosted its position in MGP Ingredients by 437.4% during the 4th quarter. Bank of Montreal Can now owns 489 shares of the company’s stock valued at $28,000 after purchasing an additional 398 shares during the period. Group One Trading L.P. acquired a new position in MGP Ingredients during the 4th quarter valued at approximately $40,000. Oppenheimer Asset Management Inc. acquired a new position in MGP Ingredients during the 4th quarter valued at approximately $142,000. Victory Capital Management Inc. boosted its position in MGP Ingredients by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 4,236 shares of the company’s stock valued at $242,000 after purchasing an additional 164 shares during the period. Finally, BB&T Corp boosted its position in MGP Ingredients by 14.4% during the 4th quarter. BB&T Corp now owns 4,695 shares of the company’s stock valued at $268,000 after purchasing an additional 590 shares during the period. Institutional investors own 98.10% of the company’s stock.
NASDAQ:MGPI opened at $77.69 on Thursday. MGP Ingredients Inc has a 12-month low of $53.66 and a 12-month high of $100.00. The company has a market cap of $1.32 billion, a P/E ratio of 35.80 and a beta of 1.56. The company has a quick ratio of 1.22, a current ratio of 4.13 and a debt-to-equity ratio of 0.16.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Wednesday, March 13th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. This is a positive change from MGP Ingredients’s previous quarterly dividend of $0.08. MGP Ingredients’s payout ratio is currently 18.43%.
In other MGP Ingredients news, Director Karen Seaberg sold 1,546 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $77.75, for a total transaction of $120,201.50. Following the completion of the transaction, the director now owns 12,682 shares in the company, valued at approximately $986,025.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David E. Dykstra sold 5,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $82.18, for a total value of $410,900.00. Following the transaction, the vice president now owns 29,396 shares of the company’s stock, valued at approximately $2,415,763.28. The disclosure for this sale can be found here. Insiders own 22.19% of the company’s stock.
MGPI has been the subject of a number of analyst reports. Zacks Investment Research upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Wednesday, December 12th. SunTrust Banks reduced their price objective on MGP Ingredients to $90.00 and set a “buy” rating for the company in a research report on Thursday, December 13th. Finally, BidaskClub lowered MGP Ingredients from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 13th.
MGP Ingredients Company Profile
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.
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