Park Avenue Securities LLC Increases Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Park Avenue Securities LLC increased its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 19.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,378 shares of the company’s stock after purchasing an additional 549 shares during the quarter. Park Avenue Securities LLC’s holdings in MGP Ingredients were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MGPI. Congress Asset Management Co. MA boosted its stake in shares of MGP Ingredients by 14.7% in the 4th quarter. Congress Asset Management Co. MA now owns 318,053 shares of the company’s stock worth $31,335,000 after buying an additional 40,824 shares during the last quarter. Vanguard Group Inc. lifted its holdings in MGP Ingredients by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 1,126,323 shares of the company’s stock worth $110,965,000 after acquiring an additional 31,839 shares during the period. Confluence Investment Management LLC purchased a new position in MGP Ingredients in the first quarter worth $3,026,000. Moody National Bank Trust Division grew its stake in MGP Ingredients by 23.5% in the 1st quarter. Moody National Bank Trust Division now owns 12,943 shares of the company’s stock valued at $1,115,000 after purchasing an additional 2,465 shares during the period. Finally, NBC Securities Inc. increased its position in shares of MGP Ingredients by 21.4% during the 1st quarter. NBC Securities Inc. now owns 8,236 shares of the company’s stock valued at $719,000 after purchasing an additional 1,451 shares during the last quarter. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Stock Performance

Shares of MGPI opened at $79.42 on Monday. MGP Ingredients, Inc. has a 1 year low of $68.86 and a 1 year high of $103.04. 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’s fifty day moving average price is $84.79 and its two-hundred day moving average price is $80.39. The firm has a market cap of $1.75 billion, a PE ratio of 18.34, a PEG ratio of 1.16 and a beta of 0.59.

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

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, August 16th. MGP Ingredients’s dividend payout ratio (DPR) is presently 11.09%.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 1,109 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total transaction of $99,965.26. Following the sale, the director now owns 134,969 shares in the company, valued at $12,166,105.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 36.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.