MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) Director Lori L.S. Mingus sold 778 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $28.89, for a total transaction of $22,476.42. Following the sale, the director now directly owns 27,131 shares of the company's stock, valued at $783,814.59. This represents a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
MGP Ingredients Stock Performance
Shares of MGP Ingredients stock opened at $28.29 on Thursday. The business has a 50-day simple moving average of $32.44 and a 200 day simple moving average of $46.81. MGP Ingredients, Inc. has a one year low of $27.72 and a one year high of $92.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The firm has a market capitalization of $601.73 million, a price-to-earnings ratio of 5.88 and a beta of 0.61.
MGP Ingredients Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Friday, March 14th. MGP Ingredients's payout ratio is 31.79%.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. StockNews.com lowered shares of MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and cut their price target for the company from $55.00 to $45.00 in a research report on Thursday, February 27th. Roth Mkm lowered their price objective on MGP Ingredients from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. Finally, Wells Fargo & Company cut their target price on MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, MGP Ingredients currently has an average rating of "Moderate Buy" and a consensus target price of $66.00.
Read Our Latest Research Report on MGP Ingredients
Hedge Funds Weigh In On MGP Ingredients
Large investors have recently modified their holdings of the company. PharVision Advisers LLC bought a new stake in MGP Ingredients during the 4th quarter valued at $316,000. Voloridge Investment Management LLC acquired a new position in shares of MGP Ingredients during the fourth quarter valued at about $12,932,000. Two Sigma Advisers LP increased its position in shares of MGP Ingredients by 4.1% during the fourth quarter. Two Sigma Advisers LP now owns 122,800 shares of the company's stock worth $4,835,000 after acquiring an additional 4,800 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of MGP Ingredients in the 4th quarter worth about $328,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in MGP Ingredients by 58.3% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,996 shares of the company's stock valued at $79,000 after acquiring an additional 735 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors.
About MGP Ingredients
(
Get Free Report)
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.
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