Walthausen & Co. LLC Sells 57,780 Shares of MGP Ingredients, Inc. (MGPI)
Walthausen & Co. LLC cut its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 20.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,650 shares of the company’s stock after selling 57,780 shares during the period. MGP Ingredients accounts for about 1.3% of Walthausen & Co. LLC’s investment portfolio, making the stock its 22nd largest position. Walthausen & Co. LLC owned approximately 1.36% of MGP Ingredients worth $13,802,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of MGPI. Victory Capital Management Inc. increased its holdings in shares of MGP Ingredients by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,165 shares of the company’s stock valued at $111,000 after acquiring an additional 325 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of MGP Ingredients during the 3rd quarter valued at about $128,000. ETF Managers Group LLC acquired a new position in shares of MGP Ingredients during the 2nd quarter valued at about $134,000. Suntrust Banks Inc. acquired a new position in shares of MGP Ingredients during the 2nd quarter valued at about $208,000. Finally, Aperio Group LLC acquired a new position in shares of MGP Ingredients during the 2nd quarter valued at about $240,000.
In other news, Director Daryl Schaller sold 20,000 shares of MGP Ingredients stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $72.58, for a total transaction of $1,451,600.00. Following the sale, the director now owns 2,851 shares of the company’s stock, valued at approximately $206,925.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Seaberg sold 2,492 shares of MGP Ingredients stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $73.05, for a total value of $182,040.60. Following the sale, the director now directly owns 10,591 shares in the company, valued at approximately $773,672.55. The disclosure for this sale can be found here. Insiders sold a total of 27,797 shares of company stock worth $1,973,320 in the last ninety days. Insiders own 23.50% of the company’s stock.
A number of brokerages have recently commented on MGPI. Stifel Nicolaus began coverage on MGP Ingredients in a report on Tuesday, December 5th. They set a “hold” rating and a $73.00 price objective on the stock. BidaskClub lowered MGP Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Investment Research raised MGP Ingredients from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Tuesday, November 7th. Finally, SunTrust Banks reissued a “buy” rating on shares of MGP Ingredients in a report on Friday, November 3rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. MGP Ingredients presently has an average rating of “Buy” and an average price target of $71.75.
Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) opened at $74.01 on Tuesday. The stock has a market capitalization of $1,233.62, a P/E ratio of 42.64, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95. The company has a quick ratio of 1.54, a current ratio of 4.45 and a debt-to-equity ratio of 0.21. MGP Ingredients, Inc. has a fifty-two week low of $41.16 and a fifty-two week high of $78.02.
MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Thursday, November 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.45. The firm had revenue of $86.30 million for the quarter, compared to analyst estimates of $83.57 million. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. equities research analysts forecast that MGP Ingredients, Inc. will post 2.2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Tuesday, November 14th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Monday, November 13th. MGP Ingredients’s dividend payout ratio (DPR) is currently 7.37%.
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About MGP Ingredients
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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