Mutual of America Capital Management LLC Lowers Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Mutual of America Capital Management LLC reduced its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 1.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 63,540 shares of the company’s stock after selling 1,017 shares during the quarter. Mutual of America Capital Management LLC owned about 0.29% of MGP Ingredients worth $4,727,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of MGPI. Dimensional Fund Advisors LP increased its stake in shares of MGP Ingredients by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 790,339 shares of the company’s stock worth $58,801,000 after acquiring an additional 68,278 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in MGP Ingredients during the 2nd quarter worth approximately $22,028,000. Envestnet Asset Management Inc. raised its stake in shares of MGP Ingredients by 20.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 113,672 shares of the company’s stock worth $8,457,000 after buying an additional 19,203 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in shares of MGP Ingredients in the 2nd quarter valued at approximately $277,000. Finally, Texas Permanent School Fund Corp boosted its stake in shares of MGP Ingredients by 22.4% in the second quarter. Texas Permanent School Fund Corp now owns 16,746 shares of the company’s stock valued at $1,246,000 after buying an additional 3,066 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of MGPI stock opened at $83.84 on Friday. The stock has a fifty day moving average price of $84.65 and a 200 day moving average price of $80.67. 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 stock has a market cap of $1.85 billion, a PE ratio of 19.36, a P/E/G ratio of 1.19 and a beta of 0.59. MGP Ingredients, Inc. has a 1 year low of $68.86 and a 1 year high of $109.41.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.17. MGP Ingredients had a return on equity of 14.98% and a net margin of 12.18%. The business 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 EPS. The business’s revenue was down 8.7% on a year-over-year basis. Sell-side analysts forecast that MGP Ingredients, Inc. will post 6.25 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on MGPI shares. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Roth Mkm reiterated a “buy” rating and issued a $92.00 price objective on shares of MGP Ingredients in a research note on Thursday, July 25th.

Insider Transactions at MGP Ingredients

In related news, Director Karen Seaberg sold 1,109 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total value of $99,965.26. Following the sale, the director now owns 134,969 shares of the company’s stock, valued at approximately $12,166,105.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 36.20% of the company’s stock.

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.