MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP lowered its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,393 shares of the company’s stock after selling 131 shares during the period. Wakefield Asset Management LLLP’s holdings in MGP Ingredients were worth $699,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MGPI. CWM LLC increased its holdings in MGP Ingredients by 477.9% in the 2nd quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after buying an additional 325 shares during the period. Innealta Capital LLC acquired a new stake in shares of MGP Ingredients in the second quarter worth $42,000. LRI Investments LLC purchased a new position in shares of MGP Ingredients during the first quarter worth $43,000. Covestor Ltd lifted its position in MGP Ingredients by 23.3% during the first quarter. Covestor Ltd now owns 795 shares of the company’s stock valued at $68,000 after purchasing an additional 150 shares during the period. Finally, Quest Partners LLC purchased a new stake in MGP Ingredients in the fourth quarter valued at $72,000. 77.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MGP Ingredients

In related news, Director Karen Seaberg sold 1,109 shares of MGP Ingredients stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $90.14, for a total value of $99,965.26. Following the sale, the director now owns 134,969 shares of the company’s stock, valued at approximately $12,166,105.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 36.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MGPI shares. StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Roth Mkm reiterated a “buy” rating and set a $92.00 price target on shares of MGP Ingredients in a research report on Thursday, July 25th.

MGP Ingredients Stock Performance

Shares of NASDAQ MGPI opened at $89.05 on Friday. The company has a market capitalization of $1.96 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.30 and a beta of 0.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.22 and a current ratio of 6.44. The company’s fifty day moving average price is $82.46 and its 200 day moving average price is $80.60. MGP Ingredients, Inc. has a 1 year low of $68.86 and a 1 year high of $115.38.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.17. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The business had revenue of $190.80 million for the quarter, compared to analyst estimates of $189.06 million. During the same period in the prior year, the company posted $1.49 EPS. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, research analysts predict that MGP Ingredients, Inc. will post 6.25 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, August 16th. MGP Ingredients’s dividend payout ratio (DPR) is presently 11.09%.

MGP Ingredients 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.