Park Avenue Securities LLC Has $281,000 Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Park Avenue Securities LLC boosted its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 19.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,378 shares of the company’s stock after purchasing an additional 549 shares during the period. Park Avenue Securities LLC’s holdings in MGP Ingredients were worth $281,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Congress Asset Management Co. MA increased its stake in shares of MGP Ingredients by 14.7% in the fourth quarter. Congress Asset Management Co. MA now owns 318,053 shares of the company’s stock valued at $31,335,000 after buying an additional 40,824 shares during the period. Vanguard Group Inc. raised its holdings in MGP Ingredients by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 1,126,323 shares of the company’s stock worth $110,965,000 after purchasing an additional 31,839 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of MGP Ingredients in the 1st quarter worth approximately $3,026,000. Moody National Bank Trust Division lifted its position in shares of MGP Ingredients by 23.5% in the 1st quarter. Moody National Bank Trust Division now owns 12,943 shares of the company’s stock worth $1,115,000 after purchasing an additional 2,465 shares during the period. Finally, NBC Securities Inc. boosted its stake in shares of MGP Ingredients by 21.4% in the 1st quarter. NBC Securities Inc. now owns 8,236 shares of the company’s stock valued at $719,000 after purchasing an additional 1,451 shares during the last quarter. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Stock Performance

NASDAQ:MGPI opened at $79.42 on Monday. The company has a quick ratio of 2.22, a current ratio of 6.44 and a debt-to-equity ratio of 0.34. MGP Ingredients, Inc. has a twelve month low of $68.86 and a twelve month high of $103.04. The company has a fifty day moving average of $84.79 and a 200-day moving average of $80.39. The firm has a market capitalization of $1.75 billion, a P/E ratio of 18.34, a P/E/G ratio of 1.16 and a beta of 0.59.

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

MGP Ingredients Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, August 16th. This represents a $0.48 annualized dividend and a dividend yield of 0.60%. MGP Ingredients’s dividend payout ratio is 11.09%.

Insider Transactions at MGP Ingredients

In related news, Director Karen Seaberg sold 1,109 shares of MGP Ingredients stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $90.14, for a total value of $99,965.26. Following the completion of the sale, the director now owns 134,969 shares of the company’s stock, valued at approximately $12,166,105.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 36.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MGPI has been the topic of several recent analyst reports. Roth Mkm restated a “buy” rating and issued a $92.00 target price on shares of MGP Ingredients in a report on Thursday, July 25th. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Monday, August 5th.

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.