American Century Companies Inc. lessened its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 10.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,608 shares of the company’s stock after selling 9,284 shares during the period. American Century Companies Inc. owned 0.47% of MGP Ingredients worth $4,022,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in MGPI. Neuberger Berman Group LLC grew its position in MGP Ingredients by 106.4% in the 1st quarter. Neuberger Berman Group LLC now owns 1,109,583 shares of the company’s stock valued at $60,173,000 after buying an additional 571,983 shares in the last quarter. Thrivent Financial For Lutherans bought a new position in MGP Ingredients in the 1st quarter valued at about $22,030,000. TimesSquare Capital Management LLC grew its position in MGP Ingredients by 60.0% in the 1st quarter. TimesSquare Capital Management LLC now owns 973,400 shares of the company’s stock valued at $52,787,000 after buying an additional 365,200 shares in the last quarter. Goldman Sachs Group Inc. grew its position in MGP Ingredients by 40.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 603,290 shares of the company’s stock valued at $32,716,000 after buying an additional 174,473 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in MGP Ingredients by 8.4% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 746,764 shares of the company’s stock valued at $38,212,000 after buying an additional 57,890 shares in the last quarter. Hedge funds and other institutional investors own 98.38% of the company’s stock.
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A number of equities analysts recently issued reports on MGPI shares. Sidoti lowered shares of MGP Ingredients from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. Zacks Investment Research lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, BidaskClub lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th.
In other MGP Ingredients news, Director Karen Seaberg sold 934 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $57.30, for a total transaction of $53,518.20. Following the completion of the sale, the director now directly owns 10,591 shares of the company’s stock, valued at approximately $606,864.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 13,820 shares of company stock valued at $773,123 over the last three months. Company insiders own 23.50% of the company’s stock.
MGP Ingredients, Inc. (NASDAQ:MGPI) opened at 58.95 on Tuesday. MGP Ingredients, Inc. has a 52-week low of $31.93 and a 52-week high of $62.00. The company has a market cap of $985.35 million, a price-to-earnings ratio of 30.78 and a beta of 1.04. The stock’s 50 day moving average is $58.20 and its 200 day moving average is $53.49.
MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.03. The business had revenue of $85.80 million during the quarter, compared to the consensus estimate of $84.39 million. MGP Ingredients had a net margin of 9.33% and a return on equity of 21.30%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts forecast that MGP Ingredients, Inc. will post $1.69 earnings per share for the current year.
The company also recently disclosed a special dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were issued a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 16th. This represents a yield of 0.27%. MGP Ingredients’s dividend payout ratio is currently 8.42%.
MGP Ingredients Profile
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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