Ariel Investments LLC Raises Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Ariel Investments LLC boosted its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 92.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 515,796 shares of the company’s stock after buying an additional 248,076 shares during the period. Ariel Investments LLC’s holdings in MGP Ingredients were worth $38,375,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Scout Investments Inc. lifted its position in MGP Ingredients by 30.5% during the 1st quarter. Scout Investments Inc. now owns 85,820 shares of the company’s stock valued at $7,325,000 after acquiring an additional 20,073 shares during the period. Mutual of America Capital Management LLC boosted its holdings in MGP Ingredients by 239.2% in the first quarter. Mutual of America Capital Management LLC now owns 64,557 shares of the company’s stock worth $5,560,000 after acquiring an additional 45,527 shares in the last quarter. Southernsun Asset Management LLC increased its holdings in shares of MGP Ingredients by 8.9% during the fourth quarter. Southernsun Asset Management LLC now owns 470,661 shares of the company’s stock valued at $46,370,000 after acquiring an additional 38,404 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in MGP Ingredients by 21.7% in the 1st quarter. Congress Asset Management Co. MA now owns 387,003 shares of the company’s stock worth $33,333,000 after purchasing an additional 68,950 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new position in MGP Ingredients in the first quarter worth about $3,026,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Insider Transactions at MGP Ingredients

In other news, Director Karen Seaberg sold 1,109 shares of the business’s stock in a transaction dated 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 directly owns 134,969 shares in the company, valued at approximately $12,166,105.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 36.20% of the company’s stock.

MGP Ingredients Trading Down 0.5 %

Shares of MGP Ingredients stock opened at $81.22 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.44 and a quick ratio of 2.22. The stock has a market capitalization of $1.79 billion, a PE ratio of 18.76, a P/E/G ratio of 1.21 and a beta of 0.59. MGP Ingredients, Inc. has a 1-year low of $68.86 and a 1-year high of $109.41. The company’s fifty day simple moving average is $84.86 and its 200-day simple moving average is $80.65.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $189.06 million. During the same period in the prior year, the business posted $1.49 earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. As a group, equities analysts anticipate that MGP Ingredients, Inc. will post 6.25 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. MGP Ingredients’s dividend payout ratio (DPR) is 11.09%.

Analyst Ratings Changes

Several research firms recently issued reports on MGPI. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Roth Mkm reaffirmed a “buy” rating and set a $92.00 price target on shares of MGP Ingredients in a report on Thursday, July 25th.

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.