Diversified Trust Co Purchases 675 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Diversified Trust Co boosted its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 4.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,125 shares of the company’s stock after purchasing an additional 675 shares during the quarter. Diversified Trust Co owned approximately 0.07% of MGP Ingredients worth $1,259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MGPI. CWM LLC raised its holdings in MGP Ingredients by 477.9% during the 2nd quarter. CWM LLC now owns 393 shares of the company’s stock valued at $29,000 after buying an additional 325 shares during the period. Isthmus Partners LLC grew its position in MGP Ingredients by 2.1% in the 2nd quarter. Isthmus Partners LLC now owns 41,427 shares of the company’s stock valued at $31,000 after acquiring an additional 860 shares during the last quarter. Innealta Capital LLC bought a new position in MGP Ingredients in the 2nd quarter valued at $42,000. LRI Investments LLC bought a new position in MGP Ingredients in the 1st quarter valued at $43,000. Finally, Covestor Ltd grew its position in shares of MGP Ingredients by 23.3% during the 1st quarter. Covestor Ltd now owns 795 shares of the company’s stock worth $68,000 after buying an additional 150 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

MGP Ingredients Stock Down 1.1 %

Shares of MGPI stock opened at $79.16 on Wednesday. The stock has a 50 day moving average of $85.07 and a 200 day moving average of $80.47. The company has a current ratio of 6.44, a quick ratio of 2.22 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.74 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.21 and a beta of 0.59. MGP Ingredients, Inc. has a twelve month low of $68.86 and a twelve month high of $104.73.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results 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. MGP Ingredients had a return on equity of 14.98% and a net margin of 12.18%. The company had revenue of $190.80 million during the quarter, compared to analysts’ expectations of $189.06 million. During the same period last year, the business earned $1.49 earnings per share. MGP Ingredients’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, sell-side analysts expect that MGP Ingredients, Inc. will post 6.25 EPS for the current year.

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 16th. This represents a $0.48 dividend on an annualized basis and a yield of 0.61%. MGP Ingredients’s payout ratio is 11.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Roth Mkm reaffirmed a “buy” rating and set a $92.00 price objective on shares of MGP Ingredients in a research report on Thursday, July 25th. StockNews.com upgraded 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.