Moody National Bank Trust Division Has $1.12 Million Stock Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Moody National Bank Trust Division raised its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 23.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,943 shares of the company’s stock after buying an additional 2,465 shares during the quarter. Moody National Bank Trust Division owned 0.06% of MGP Ingredients worth $1,115,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of MGP Ingredients by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 698,346 shares of the company’s stock valued at $68,804,000 after acquiring an additional 17,967 shares during the period. Southernsun Asset Management LLC lifted its position in shares of MGP Ingredients by 8.9% during the 4th quarter. Southernsun Asset Management LLC now owns 470,661 shares of the company’s stock worth $46,370,000 after buying an additional 38,404 shares during the last quarter. Congress Asset Management Co. MA lifted its position in shares of MGP Ingredients by 14.7% during the 4th quarter. Congress Asset Management Co. MA now owns 318,053 shares of the company’s stock worth $31,335,000 after buying an additional 40,824 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of MGP Ingredients during the 1st quarter worth $3,026,000. Finally, Mutual of America Capital Management LLC lifted its position in shares of MGP Ingredients by 594.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 19,030 shares of the company’s stock worth $1,875,000 after buying an additional 16,290 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Donn S. Lux sold 22,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $82.50, for a total value of $1,815,000.00. Following the completion of the sale, the director now owns 2,673,264 shares of the company’s stock, valued at $220,544,280. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Lori L.S. Mingus sold 2,430 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $78.88, for a total transaction of $191,678.40. Following the completion of the sale, the director now owns 47,287 shares of the company’s stock, valued at $3,729,998.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donn S. Lux sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $82.50, for a total value of $1,815,000.00. Following the sale, the director now directly owns 2,673,264 shares of the company’s stock, valued at approximately $220,544,280. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,430 shares of company stock valued at $2,836,678. Company insiders own 36.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MGPI shares. Wedbush restated an “outperform” rating and set a $120.00 price objective on shares of MGP Ingredients in a research report on Monday, April 29th. Roth Mkm dropped their price objective on MGP Ingredients from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, StockNews.com downgraded MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, April 26th.

MGP Ingredients Price Performance

Shares of MGPI opened at $73.30 on Thursday. MGP Ingredients, Inc. has a 12-month low of $70.82 and a 12-month high of $124.96. The business has a 50-day simple moving average of $77.89 and a two-hundred day simple moving average of $84.74. The company has a quick ratio of 1.97, a current ratio of 6.32 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.61 billion, a PE ratio of 16.93, a PEG ratio of 1.08 and a beta of 0.62.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, May 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. MGP Ingredients had a return on equity of 14.78% and a net margin of 11.91%. The business had revenue of $170.56 million during the quarter, compared to analysts’ expectations of $170.31 million. During the same quarter in the prior year, the firm earned $1.39 EPS. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. Analysts anticipate that MGP Ingredients, Inc. will post 6.19 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. MGP Ingredients’s payout ratio is 11.09%.

MGP Ingredients Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.