Allianz Asset Management GmbH Boosts Holdings in MGP Ingredients Inc (MGPI)
Allianz Asset Management GmbH raised its stake in MGP Ingredients Inc (NASDAQ:MGPI) by 87.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 164,467 shares of the company’s stock after buying an additional 76,763 shares during the period. Allianz Asset Management GmbH’s holdings in MGP Ingredients were worth $12,644,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of MGP Ingredients by 13.1% in the third quarter. Bank of New York Mellon Corp now owns 142,994 shares of the company’s stock valued at $8,669,000 after buying an additional 16,604 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of MGP Ingredients by 108.7% in the third quarter. New York State Common Retirement Fund now owns 29,634 shares of the company’s stock valued at $1,797,000 after buying an additional 15,434 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of MGP Ingredients in the fourth quarter valued at $272,000. EAM Investors LLC increased its holdings in shares of MGP Ingredients by 75.9% in the third quarter. EAM Investors LLC now owns 40,654 shares of the company’s stock valued at $2,465,000 after buying an additional 17,545 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of MGP Ingredients in the third quarter valued at $10,880,000. 95.74% of the stock is currently owned by institutional investors.
Shares of MGP Ingredients Inc (NASDAQ MGPI) opened at $78.18 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.00 and a current ratio of 3.24. MGP Ingredients Inc has a one year low of $47.64 and a one year high of $90.34. The stock has a market cap of $1,310.00, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 2.45 and a beta of 1.09.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.08 per share. This is an increase from MGP Ingredients’s previous quarterly dividend of $0.04. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Thursday, March 8th. MGP Ingredients’s payout ratio is 14.29%.
In other MGP Ingredients news, VP Stephen J. Glaser sold 5,800 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $74.92, for a total transaction of $434,536.00. Following the sale, the vice president now directly owns 17,080 shares of the company’s stock, valued at approximately $1,279,633.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karen Seaberg sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $73.90, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 33,770 shares of company stock worth $2,564,028. Company insiders own 23.50% of the company’s stock.
Several research analysts have issued reports on the company. Stifel Nicolaus dropped their price target on MGP Ingredients from $76.00 to $73.00 and set a “hold” rating on the stock in a report on Tuesday, March 6th. Zacks Investment Research raised MGP Ingredients from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Craig Hallum reissued a “buy” rating and set a $105.00 target price (up from $90.00) on shares of MGP Ingredients in a research note on Monday, January 29th. BidaskClub downgraded shares of MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. Finally, Sidoti raised shares of MGP Ingredients from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $87.33.
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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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