American Century Companies Inc. Reduces Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

American Century Companies Inc. cut its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 36.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 246,662 shares of the company’s stock after selling 141,246 shares during the quarter. American Century Companies Inc. owned approximately 1.12% of MGP Ingredients worth $18,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Scout Investments Inc. grew its holdings in shares of MGP Ingredients by 30.5% during the first quarter. Scout Investments Inc. now owns 85,820 shares of the company’s stock worth $7,325,000 after buying an additional 20,073 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MGP Ingredients by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 698,346 shares of the company’s stock worth $68,804,000 after buying an additional 17,967 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of MGP Ingredients by 239.2% during the first quarter. Mutual of America Capital Management LLC now owns 64,557 shares of the company’s stock worth $5,560,000 after buying an additional 45,527 shares in the last quarter. Southernsun Asset Management LLC grew its holdings in shares of MGP Ingredients by 8.9% during the fourth 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 in the last quarter. Finally, Congress Asset Management Co. MA grew its holdings in shares of MGP Ingredients by 21.7% during the first quarter. Congress Asset Management Co. MA now owns 387,003 shares of the company’s stock worth $33,333,000 after buying an additional 68,950 shares in the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 12,092 shares of MGP Ingredients stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $90.65, for a total transaction of $1,096,139.80. Following the transaction, the director now directly owns 54,542 shares of the company’s stock, valued at $4,944,232.30. The sale was disclosed in a filing with the SEC, which is available at this link. 36.20% of the stock is currently owned by corporate insiders.

MGP Ingredients Price Performance

MGP Ingredients stock opened at $83.84 on Friday. MGP Ingredients, Inc. has a 1 year low of $68.86 and a 1 year high of $109.41. The firm has a 50 day moving average price of $84.50 and a 200 day moving average price of $80.69. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.19 and a beta of 0.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.22 and a current ratio of 6.44.

MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.17. The firm had revenue of $190.80 million during the quarter, compared to the consensus estimate of $189.06 million. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. MGP Ingredients’s revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 earnings per share. Sell-side analysts predict that MGP Ingredients, Inc. will post 6.25 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 16th. This represents a $0.48 dividend on an annualized basis and a yield of 0.57%. MGP Ingredients’s dividend payout ratio (DPR) is 11.09%.

Analysts Set New Price Targets

MGPI has been the subject of a number of recent research reports. Roth Mkm reiterated a “buy” rating and set a $92.00 price target on shares of MGP Ingredients in a report on Thursday, July 25th. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Monday, August 5th.

MGP Ingredients Company 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.