MGP Ingredients Inc (NASDAQ:MGPI) Director Karen Seaberg sold 11,175 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $78.33, for a total value of $875,337.75. Following the sale, the director now owns 11,864 shares in the company, valued at $929,307.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Karen Seaberg also recently made the following trade(s):
- On Wednesday, August 1st, Karen Seaberg sold 1,266 shares of MGP Ingredients stock. The shares were sold at an average price of $79.48, for a total value of $100,621.68.
Shares of NASDAQ:MGPI traded up $0.23 during mid-day trading on Thursday, hitting $78.76. 109,500 shares of the company traded hands, compared to its average volume of 186,676. The company has a market cap of $1.32 billion, a P/E ratio of 42.12 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 4.70. MGP Ingredients Inc has a 52-week low of $58.42 and a 52-week high of $99.73.
MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, August 2nd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.03). The company had revenue of $88.25 million for the quarter, compared to analysts’ expectations of $90.65 million. MGP Ingredients had a net margin of 12.13% and a return on equity of 18.65%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. analysts predict that MGP Ingredients Inc will post 2.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Thursday, August 16th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. MGP Ingredients’s payout ratio is currently 17.11%.
Large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its stake in MGP Ingredients by 82.3% during the 1st quarter. Wells Fargo & Company MN now owns 66,784 shares of the company’s stock valued at $5,983,000 after purchasing an additional 30,140 shares in the last quarter. Rhumbline Advisers grew its stake in MGP Ingredients by 143.4% during the 1st quarter. Rhumbline Advisers now owns 29,791 shares of the company’s stock valued at $2,669,000 after purchasing an additional 17,552 shares in the last quarter. Prudential Financial Inc. acquired a new stake in MGP Ingredients during the 1st quarter valued at approximately $2,010,000. Swiss National Bank grew its stake in MGP Ingredients by 5.2% during the 1st quarter. Swiss National Bank now owns 20,400 shares of the company’s stock valued at $1,828,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in MGP Ingredients by 1.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 66,538 shares of the company’s stock valued at $5,962,000 after purchasing an additional 801 shares in the last quarter. Institutional investors and hedge funds own 98.16% of the company’s stock.
Several brokerages recently commented on MGPI. ValuEngine downgraded MGP Ingredients from a “buy” rating to a “hold” rating in a report on Monday, August 20th. BidaskClub downgraded MGP Ingredients from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $87.33.
MGP Ingredients Company Profile
MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.
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