TIAA CREF Investment Management LLC Has $1.78 Million Holdings in MGP Ingredients, Inc. (MGPI)
TIAA CREF Investment Management LLC raised its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,753 shares of the company’s stock after purchasing an additional 944 shares during the period. TIAA CREF Investment Management LLC owned 0.21% of MGP Ingredients worth $1,778,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of MGP Ingredients by 26.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,840 shares of the company’s stock worth $100,000 after acquiring an additional 388 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of MGP Ingredients during the 1st quarter worth $186,000. Aperio Group LLC bought a new stake in shares of MGP Ingredients during the 2nd quarter worth $240,000. Parametric Portfolio Associates LLC lifted its holdings in shares of MGP Ingredients by 6.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 5,239 shares of the company’s stock worth $284,000 after acquiring an additional 302 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of MGP Ingredients by 15.0% during the 2nd 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 last quarter. 99.36% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub raised shares of MGP Ingredients from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th.
In related news, Director Karen Seaberg sold 934 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $57.30, for a total transaction of $53,518.20. Following the completion of the transaction, the director now owns 10,591 shares in the company, valued at $606,864.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 12,837 shares of company stock valued at $789,473. 23.50% of the stock is owned by company insiders.
MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, November 2nd. The company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.45. MGP Ingredients had a net margin of 9.33% and a return on equity of 21.30%. The firm had revenue of $86.30 million during the quarter, compared to analyst estimates of $83.57 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. MGP Ingredients’s revenue for the quarter was up 8.0% on a year-over-year basis.
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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