SG Americas Securities LLC Sells 3,226 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

SG Americas Securities LLC reduced its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 19.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,374 shares of the company’s stock after selling 3,226 shares during the period. SG Americas Securities LLC owned approximately 0.06% of MGP Ingredients worth $527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MGPI. FMR LLC lifted its stake in MGP Ingredients by 14.2% during the third quarter. FMR LLC now owns 1,102,985 shares of the company’s stock worth $91,824,000 after purchasing an additional 137,292 shares during the last quarter. State Street Corp raised its holdings in shares of MGP Ingredients by 22.4% during the 3rd quarter. State Street Corp now owns 717,675 shares of the company’s stock valued at $59,746,000 after buying an additional 131,542 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in MGP Ingredients by 67.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 495,622 shares of the company’s stock worth $41,261,000 after buying an additional 199,550 shares during the last quarter. Congress Asset Management Co. boosted its stake in MGP Ingredients by 18.6% in the third quarter. Congress Asset Management Co. now owns 490,546 shares of the company’s stock worth $40,838,000 after buying an additional 76,835 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. grew its position in MGP Ingredients by 2.5% during the third quarter. ZWJ Investment Counsel Inc. now owns 293,580 shares of the company’s stock valued at $24,440,000 after acquiring an additional 7,042 shares during the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

MGP Ingredients Stock Up 0.2 %

Shares of NASDAQ:MGPI opened at $36.13 on Friday. MGP Ingredients, Inc. has a 1 year low of $34.02 and a 1 year high of $92.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The stock’s 50-day moving average is $40.35 and its 200 day moving average is $62.91. The company has a market cap of $793.05 million, a PE ratio of 7.51 and a beta of 0.65.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The company had revenue of $161.50 million during the quarter, compared to analyst estimates of $161.55 million. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The firm’s revenue was down 23.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 earnings per share. Sell-side analysts anticipate that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.12 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.48 annualized dividend and a yield of 1.33%. MGP Ingredients’s dividend payout ratio (DPR) is presently 9.98%.

Wall Street Analysts Forecast Growth

MGPI has been the subject of a number of recent research reports. Truist Financial lowered their price objective on shares of MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Lake Street Capital downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and lowered their price target for the stock from $135.00 to $75.00 in a research note on Friday, October 18th. Loop Capital set a $75.00 price objective on MGP Ingredients in a research note on Friday, October 18th. TD Cowen lowered MGP Ingredients from a “buy” rating to a “hold” rating and lowered their target price for the company from $66.00 to $50.00 in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company reduced their price target on MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.29.

Insider Buying and Selling at MGP Ingredients

In other news, Director Lori L.S. Mingus sold 7,050 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $46.03, for a total value of $324,511.50. Following the completion of the transaction, the director now owns 37,373 shares in the company, valued at $1,720,279.19. This trade represents a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 36.20% of the company’s stock.

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.