MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC increased its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 28.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,920 shares of the company’s stock after purchasing an additional 1,083 shares during the period. MML Investors Services LLC’s holdings in MGP Ingredients were worth $410,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MGPI. Massachusetts Financial Services Co. MA acquired a new position in shares of MGP Ingredients during the 2nd quarter worth about $22,028,000. Ariel Investments LLC lifted its stake in MGP Ingredients by 92.7% during the second quarter. Ariel Investments LLC now owns 515,796 shares of the company’s stock worth $38,375,000 after purchasing an additional 248,076 shares during the last quarter. FMR LLC boosted its holdings in MGP Ingredients by 14.2% in the third quarter. FMR LLC now owns 1,102,985 shares of the company’s stock valued at $91,824,000 after purchasing an additional 137,292 shares in the last quarter. State Street Corp increased its stake in MGP Ingredients by 22.4% in the third quarter. State Street Corp now owns 717,675 shares of the company’s stock valued at $59,746,000 after purchasing an additional 131,542 shares during the last quarter. Finally, Portolan Capital Management LLC acquired a new stake in MGP Ingredients during the third quarter worth approximately $6,777,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Insider Buying and Selling

In other MGP Ingredients news, Director Lori L.S. Mingus sold 7,050 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.03, for a total transaction of $324,511.50. Following the transaction, the director now directly owns 37,373 shares of the company’s stock, valued at $1,720,279.19. The trade was a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 36.20% of the company’s stock.

MGP Ingredients Trading Down 0.4 %

Shares of MGP Ingredients stock opened at $39.85 on Tuesday. The firm has a market cap of $874.83 million, a PE ratio of 8.28, a P/E/G ratio of 0.74 and a beta of 0.63. 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 fifty-two week low of $38.65 and a fifty-two week high of $102.42. The business’s fifty day moving average is $50.51 and its two-hundred day moving average is $70.16.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The firm had revenue of $161.50 million for the quarter, compared to analyst estimates of $161.55 million. During the same period last year, the company earned $1.34 EPS. The firm’s quarterly revenue was down 23.7% on a year-over-year basis. Analysts anticipate that MGP Ingredients, Inc. will post 5.57 earnings per share for the current year.

MGP Ingredients Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.20%. MGP Ingredients’s payout ratio is 9.98%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MGPI shares. Lake Street Capital downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and dropped their target price for the company from $135.00 to $75.00 in a research report on Friday, October 18th. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a report on Friday, November 1st. TD Cowen downgraded MGP Ingredients from a “buy” rating to a “hold” rating and reduced their target price for the company from $66.00 to $50.00 in a report on Wednesday, November 6th. Roth Mkm dropped their price target on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Loop Capital set a $75.00 price objective on MGP Ingredients in a research note on Friday, October 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, MGP Ingredients presently has a consensus rating of “Moderate Buy” and an average target price of $75.83.

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.