Gamco Investors INC. ET AL purchased a new position in shares of MGP Ingredients Inc (NASDAQ:MGPI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,960 shares of the company’s stock, valued at approximately $228,000.

A number of other large investors have also recently added to or reduced their stakes in MGPI. Schwab Charles Investment Management Inc. lifted its stake in MGP Ingredients by 6.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 62,828 shares of the company’s stock worth $3,215,000 after purchasing an additional 4,079 shares in the last quarter. Alliancebernstein L.P. lifted its stake in MGP Ingredients by 31.0% during the second quarter. Alliancebernstein L.P. now owns 14,800 shares of the company’s stock worth $757,000 after purchasing an additional 3,500 shares in the last quarter. Teachers Advisors LLC lifted its stake in MGP Ingredients by 4.2% during the second quarter. Teachers Advisors LLC now owns 23,791 shares of the company’s stock worth $1,217,000 after purchasing an additional 962 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in MGP Ingredients by 2.8% during the second quarter. TIAA CREF Investment Management LLC now owns 34,753 shares of the company’s stock worth $1,778,000 after purchasing an additional 944 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in MGP Ingredients by 4.6% during the second quarter. Northern Trust Corp now owns 156,804 shares of the company’s stock worth $8,024,000 after purchasing an additional 6,927 shares in the last quarter. Institutional investors own 98.56% of the company’s stock.

Several brokerages have recently issued reports on MGPI. Sidoti upgraded MGP Ingredients from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. Craig Hallum reiterated a “buy” rating and issued a $105.00 price objective (up from $90.00) on shares of MGP Ingredients in a research note on Monday, January 29th. Zacks Investment Research cut MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus began coverage on MGP Ingredients in a research note on Tuesday, December 5th. They issued a “hold” rating and a $73.00 price objective on the stock. Finally, BidaskClub cut MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $81.00.

Shares of MGP Ingredients Inc (NASDAQ MGPI) opened at $83.41 on Wednesday. The stock has a market capitalization of $1,379.46, a price-to-earnings ratio of 47.68, a PEG ratio of 2.52 and a beta of 1.01. The company has a quick ratio of 1.54, a current ratio of 4.45 and a debt-to-equity ratio of 0.21. MGP Ingredients Inc has a 52 week low of $42.56 and a 52 week high of $90.34.

In other news, Director Karen Seaberg sold 20,000 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $73.90, for a total value of $1,478,000.00. Following the sale, the director now directly owns 10,591 shares in the company, valued at $782,674.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Stephen J. Glaser sold 5,800 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $74.92, for a total value of $434,536.00. Following the completion of the sale, the vice president now owns 17,080 shares in the company, valued at $1,279,633.60. The disclosure for this sale can be found here. 23.50% of the stock is currently owned by company insiders.

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MGP Ingredients Profile

MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.

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Institutional Ownership by Quarter for MGP Ingredients (NASDAQ:MGPI)

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