Media stories about MGP Ingredients (NASDAQ:MGPI) have trended somewhat positive on Sunday, Accern reports. The research firm identifies negative and positive press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. MGP Ingredients earned a news sentiment score of 0.14 on Accern’s scale. Accern also assigned press coverage about the company an impact score of 46.9740871012141 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Shares of MGP Ingredients (MGPI) opened at 59.17 on Friday. The company has a market cap of $989.03 million, a P/E ratio of 30.90 and a beta of 1.01. MGP Ingredients has a one year low of $31.93 and a one year high of $60.62. The company has a 50 day moving average price of $55.06 and a 200 day moving average price of $51.30.
MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by $0.03. MGP Ingredients had a net margin of 9.33% and a return on equity of 21.30%. The company had revenue of $85.80 million during the quarter, compared to the consensus estimate of $84.39 million. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts expect that MGP Ingredients will post $1.70 earnings per share for the current year.
The business also recently disclosed a special dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, August 16th. This represents a dividend yield of 0.27%. MGP Ingredients’s dividend payout ratio is currently 8.42%.
MGPI has been the topic of several recent research reports. Sidoti downgraded MGP Ingredients from a “buy” rating to a “neutral” rating in a report on Friday, May 5th. Craig Hallum set a $70.00 price target on MGP Ingredients and gave the stock a “buy” rating in a report on Saturday, May 6th. Zacks Investment Research raised MGP Ingredients from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Wednesday, May 10th. Finally, BidaskClub downgraded MGP Ingredients from a “buy” rating to a “hold” rating in a report on Saturday, July 8th.
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In other news, Director Karen Seaberg sold 6,288 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $51.42, for a total value of $323,328.96. Following the transaction, the director now directly owns 10,591 shares of the company’s stock, valued at approximately $544,589.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.50% of the stock is owned by insiders.
About MGP Ingredients
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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