MGP Ingredients, Inc. (NASDAQ:MGPI) Stake Lessened by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lessened its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 69.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 438 shares of the company’s stock after selling 1,003 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in MGP Ingredients were worth $33,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MGPI. Massachusetts Financial Services Co. MA bought a new stake in shares of MGP Ingredients in the second quarter worth $22,028,000. Champlain Investment Partners LLC boosted its holdings in MGP Ingredients by 25.4% in the first quarter. Champlain Investment Partners LLC now owns 1,366,906 shares of the company’s stock worth $117,732,000 after purchasing an additional 276,675 shares during the period. Ariel Investments LLC acquired a new position in MGP Ingredients in the first quarter worth $23,059,000. ZWJ Investment Counsel Inc. boosted its holdings in MGP Ingredients by 314.1% in the first quarter. ZWJ Investment Counsel Inc. now owns 276,549 shares of the company’s stock worth $23,819,000 after purchasing an additional 209,771 shares during the period. Finally, Congress Asset Management Co. MA boosted its holdings in MGP Ingredients by 21.7% in the first quarter. Congress Asset Management Co. MA now owns 387,003 shares of the company’s stock worth $33,333,000 after purchasing an additional 68,950 shares during the period. Institutional investors own 77.11% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Karen Seaberg sold 12,092 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $90.65, for a total value of $1,096,139.80. Following the completion of the sale, the director now owns 54,542 shares of the company’s stock, valued at $4,944,232.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 36.20% of the company’s stock.

MGP Ingredients Stock Performance

Shares of MGPI opened at $83.17 on Wednesday. MGP Ingredients, Inc. has a 1 year low of $68.86 and a 1 year high of $105.71. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.21 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. The firm has a fifty day moving average of $85.03 and a 200-day moving average of $80.58.

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

MGP Ingredients Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, August 16th. MGP Ingredients’s dividend payout ratio (DPR) 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.