Leeward Investments LLC MA Sells 2,123 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Leeward Investments LLC MA reduced its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,964 shares of the company’s stock after selling 2,123 shares during the quarter. Leeward Investments LLC MA owned 0.36% of MGP Ingredients worth $6,887,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MGPI. Envestnet Asset Management Inc. boosted its stake in shares of MGP Ingredients by 91.9% in the third quarter. Envestnet Asset Management Inc. now owns 69,500 shares of the company’s stock worth $7,331,000 after acquiring an additional 33,281 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of MGP Ingredients by 62.1% in the third quarter. Natixis Advisors L.P. now owns 17,999 shares of the company’s stock worth $1,899,000 after buying an additional 6,897 shares in the last quarter. Earnest Partners LLC boosted its position in shares of MGP Ingredients by 13.0% during the 3rd quarter. Earnest Partners LLC now owns 95,523 shares of the company’s stock valued at $10,076,000 after acquiring an additional 10,966 shares during the last quarter. Kingdon Capital Management L.L.C. bought a new stake in MGP Ingredients in the third quarter worth $4,304,000. Finally, Tudor Investment Corp Et Al purchased a new stake in MGP Ingredients during the third quarter valued at $2,985,000. 77.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on MGPI shares. Wedbush reissued an “outperform” rating and set a $120.00 price objective on shares of MGP Ingredients in a research note on Monday, April 29th. StockNews.com lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Finally, Roth Mkm dropped their target price on MGP Ingredients from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, May 3rd.

MGP Ingredients Trading Up 0.2 %

MGPI stock traded up $0.16 during trading on Friday, hitting $72.57. The company had a trading volume of 191 shares, compared to its average volume of 199,141. MGP Ingredients, Inc. has a 52-week low of $70.82 and a 52-week high of $124.96. The company has a 50 day simple moving average of $76.67 and a 200-day simple moving average of $83.37. The firm has a market capitalization of $1.60 billion, a P/E ratio of 16.72, a PEG ratio of 1.06 and a beta of 0.59. The company has a quick ratio of 1.97, a current ratio of 6.32 and a debt-to-equity ratio of 0.34.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, May 2nd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The business had revenue of $170.56 million for the quarter, compared to analyst estimates of $170.31 million. MGP Ingredients had a net margin of 11.91% and a return on equity of 14.78%. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. As a group, research analysts forecast that MGP Ingredients, Inc. will post 6.19 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Thursday, May 16th. MGP Ingredients’s dividend payout ratio is 11.09%.

Insider Transactions at MGP Ingredients

In related news, Director Lori L.S. Mingus sold 2,430 shares of MGP Ingredients stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $78.88, for a total value of $191,678.40. Following the completion of the sale, the director now directly owns 47,287 shares in the company, valued at $3,729,998.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Lori L.S. Mingus sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $78.88, for a total value of $191,678.40. Following the completion of the transaction, the director now owns 47,287 shares of the company’s stock, valued at $3,729,998.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donn S. Lux sold 22,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $82.50, for a total value of $1,815,000.00. Following the sale, the director now directly owns 2,673,264 shares in the company, valued at approximately $220,544,280. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,430 shares of company stock valued at $2,836,678. 36.20% of the stock is currently owned by corporate insiders.

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.