MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 2,450 shares of the business’s stock in a transaction that occurred on Thursday, April 19th. The shares were sold at an average price of $90.00, for a total value of $220,500.00. Following the completion of the sale, the director now owns 11,241 shares of the company’s stock, valued at approximately $1,011,690. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Karen Seaberg also recently made the following trade(s):

  • On Thursday, March 22nd, Karen Seaberg sold 4,600 shares of MGP Ingredients stock. The shares were sold at an average price of $87.36, for a total value of $401,856.00.
  • On Monday, March 5th, Karen Seaberg sold 7,270 shares of MGP Ingredients stock. The shares were sold at an average price of $82.14, for a total value of $597,157.80.

MGP Ingredients stock opened at $91.49 on Friday. The company has a quick ratio of 1.00, a current ratio of 3.24 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1,523.09, a price-to-earnings ratio of 48.93, a P/E/G ratio of 2.82 and a beta of 1.06. MGP Ingredients, Inc. has a twelve month low of $47.64 and a twelve month high of $93.49.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, March 1st. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. The company had revenue of $88.20 million during the quarter, compared to analyst estimates of $85.44 million. MGP Ingredients had a return on equity of 18.76% and a net margin of 11.71%. MGP Ingredients’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. analysts anticipate that MGP Ingredients, Inc. will post 2.14 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, March 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.35%. This is a positive change from MGP Ingredients’s previous quarterly dividend of $0.04. MGP Ingredients’s dividend payout ratio is currently 17.11%.

MGPI has been the subject of a number of research reports. Sidoti upgraded MGP Ingredients from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. Zacks Investment Research lowered MGP Ingredients from a “buy” rating to a “sell” rating in a report on Thursday, February 22nd. Craig Hallum reiterated a “buy” rating and issued a $105.00 price target (up previously from $90.00) on shares of MGP Ingredients in a report on Monday, January 29th. Stifel Nicolaus lowered their price target on MGP Ingredients from $76.00 to $73.00 and set a “hold” rating for the company in a report on Tuesday, March 6th. Finally, BidaskClub upgraded MGP Ingredients from a “buy” rating to a “strong-buy” rating in a report on Friday, March 30th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $87.33.

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in MGP Ingredients by 13.1% during the third quarter. Bank of New York Mellon Corp now owns 142,994 shares of the company’s stock worth $8,669,000 after buying an additional 16,604 shares during the period. California Public Employees Retirement System lifted its holdings in MGP Ingredients by 10.8% during the fourth quarter. California Public Employees Retirement System now owns 44,061 shares of the company’s stock worth $3,387,000 after buying an additional 4,300 shares during the period. Advisor Group Inc. lifted its holdings in MGP Ingredients by 636.1% during the fourth quarter. Advisor Group Inc. now owns 2,488 shares of the company’s stock worth $191,000 after buying an additional 2,150 shares during the period. BlackRock Inc. lifted its holdings in MGP Ingredients by 1.2% during the fourth quarter. BlackRock Inc. now owns 844,062 shares of the company’s stock worth $64,891,000 after buying an additional 10,092 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in MGP Ingredients during the fourth quarter worth $272,000. Institutional investors own 95.00% of the company’s stock.

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About MGP Ingredients

MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.

Insider Buying and Selling by Quarter for MGP Ingredients (NASDAQ:MGPI)

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