Diversified Trust Co Has $999,000 Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Diversified Trust Co grew its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 60.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,600 shares of the company’s stock after purchasing an additional 4,350 shares during the period. Diversified Trust Co owned about 0.05% of MGP Ingredients worth $999,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC increased its holdings in MGP Ingredients by 464.8% in the fourth quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock worth $37,000 after buying an additional 330 shares during the last quarter. Quest Partners LLC acquired a new position in shares of MGP Ingredients during the 4th quarter worth $72,000. Bare Financial Services Inc bought a new position in shares of MGP Ingredients during the 4th quarter valued at $106,000. Principal Securities Inc. acquired a new stake in shares of MGP Ingredients in the 4th quarter valued at $190,000. Finally, Cerity Partners LLC boosted its holdings in MGP Ingredients by 9.3% in the fourth quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock worth $215,000 after purchasing an additional 186 shares in the last quarter. 77.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MGP Ingredients

In related news, Director Donn S. Lux sold 22,000 shares of the stock in a transaction dated Monday, May 13th. The shares were 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 in the company, valued at $220,544,280. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Donn S. Lux sold 22,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 2,673,264 shares in the company, valued at $220,544,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donn S. Lux sold 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $83.00, for a total value of $830,000.00. Following the completion of the transaction, the director now directly owns 2,695,264 shares of the company’s stock, valued at $223,706,912. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,430 shares of company stock worth $2,836,678. 36.20% of the stock is currently owned by company insiders.

MGP Ingredients Trading Down 1.9 %

MGP Ingredients stock opened at $72.97 on Tuesday. MGP Ingredients, Inc. has a 52 week low of $70.82 and a 52 week high of $124.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.97 and a current ratio of 6.32. The firm has a market capitalization of $1.61 billion, a PE ratio of 16.85, a PEG ratio of 1.09 and a beta of 0.59. The business’s 50-day simple moving average is $77.04 and its 200-day simple moving average is $83.70.

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

MGP Ingredients Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a $0.12 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.48 annualized dividend and a yield of 0.66%. MGP Ingredients’s dividend payout ratio is 11.09%.

Analyst Ratings Changes

A number of analysts have weighed in on MGPI shares. Roth Mkm reduced their price target 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. Wedbush reaffirmed an “outperform” rating and set a $120.00 target price on shares of MGP Ingredients in a research report on Monday, April 29th. Finally, StockNews.com downgraded MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, April 26th.

About MGP Ingredients

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.