Amundi Has $264,000 Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Amundi grew its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 200.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,222 shares of the company’s stock after purchasing an additional 4,821 shares during the quarter. Amundi’s holdings in MGP Ingredients were worth $264,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its stake in shares of MGP Ingredients by 73.5% in the third quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock valued at $63,000 after buying an additional 322 shares during the period. GAMMA Investing LLC lifted its stake in shares of MGP Ingredients by 162.0% in the fourth quarter. GAMMA Investing LLC now owns 697 shares of the company’s stock valued at $27,000 after buying an additional 431 shares during the period. Versant Capital Management Inc lifted its stake in shares of MGP Ingredients by 192.5% in the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company’s stock valued at $28,000 after buying an additional 460 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of MGP Ingredients by 56.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company’s stock valued at $75,000 after buying an additional 687 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of MGP Ingredients by 187.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,261 shares of the company’s stock valued at $105,000 after buying an additional 823 shares during the period. 77.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Karen Seaberg bought 5,348 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $32.59 per share, for a total transaction of $174,291.32. Following the completion of the purchase, the director now owns 358,899 shares of the company’s stock, valued at approximately $11,696,518.41. The trade was a 1.51 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 36.20% of the company’s stock.

MGP Ingredients Stock Down 2.3 %

Shares of MGPI opened at $29.55 on Friday. The stock has a market cap of $628.53 million, a price-to-earnings ratio of 6.14 and a beta of 0.57. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. MGP Ingredients, Inc. has a 12 month low of $29.53 and a 12 month high of $92.52. The company has a 50-day moving average price of $33.54 and a two-hundred day moving average price of $50.19.

MGP Ingredients Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, March 14th. MGP Ingredients’s dividend payout ratio is 31.79%.

Wall Street Analyst Weigh In

MGPI has been the subject of several research reports. Lake Street Capital upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating and reduced their target price for the company from $55.00 to $45.00 in a research note on Thursday, February 27th. StockNews.com cut shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Roth Mkm reduced their target price on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Finally, Wells Fargo & Company reduced their target price on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.