MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg Sells 12,092 Shares

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 12,092 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $90.65, for a total value of $1,096,139.80. Following the completion of the transaction, the director now owns 54,542 shares in the company, valued at approximately $4,944,232.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

MGP Ingredients Price Performance

Shares of MGPI opened at $91.87 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.97 and a current ratio of 6.44. The firm has a market cap of $2.02 billion, a PE ratio of 21.22, a PEG ratio of 1.27 and a beta of 0.59. MGP Ingredients, Inc. has a twelve month low of $68.86 and a twelve month high of $122.32. The firm’s 50 day moving average price is $79.63 and its 200 day moving average price is $80.50.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.17. The business had revenue of $190.80 million during the quarter, compared to analyst estimates of $189.06 million. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. MGP Ingredients’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.49 EPS. As a group, research analysts expect that MGP Ingredients, Inc. will post 6.18 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Friday, August 16th. MGP Ingredients’s dividend payout ratio is 11.09%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in MGP Ingredients by 477.9% during the second quarter. CWM LLC now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 325 shares during the last quarter. Isthmus Partners LLC boosted its holdings in shares of MGP Ingredients by 2.1% during the 2nd quarter. Isthmus Partners LLC now owns 41,427 shares of the company’s stock worth $31,000 after buying an additional 860 shares during the period. Innealta Capital LLC acquired a new position in MGP Ingredients in the 2nd quarter valued at $42,000. LRI Investments LLC bought a new position in MGP Ingredients in the 1st quarter worth $43,000. Finally, Covestor Ltd lifted its position in MGP Ingredients by 23.3% during the 1st quarter. Covestor Ltd now owns 795 shares of the company’s stock worth $68,000 after acquiring an additional 150 shares during the last quarter. 77.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on MGPI shares. Wedbush reiterated an “outperform” rating and issued a $120.00 price objective on shares of MGP Ingredients in a research note on Monday, April 29th. Roth Mkm reaffirmed a “buy” rating and issued a $92.00 price target on shares of MGP Ingredients in a research note on Thursday, July 25th. Finally, StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Monday, August 5th.

MGP Ingredients Company 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.