MGP Ingredients (NASDAQ:MGPI) Insider Sells 27,731 Shares of Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) insider Leslie Lux sold 27,731 shares of MGP Ingredients stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $14.40, for a total value of $399,326.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

MGP Ingredients Price Performance

NASDAQ:MGPI traded down $0.26 during trading hours on Friday, hitting $14.13. 388,288 shares of the stock were exchanged, compared to its average volume of 208,572. The firm’s fifty day moving average price is $17.07 and its 200 day moving average price is $17.68. MGP Ingredients, Inc. has a 52-week low of $14.02 and a 52-week high of $27.94. The company has a market cap of $302.52 million, a P/E ratio of -1.25 and a beta of 0.45. The company has a current ratio of 6.99, a quick ratio of 1.65 and a debt-to-equity ratio of 0.61.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.49 by $0.23. MGP Ingredients had a positive return on equity of 7.41% and a negative net margin of 48.08%.The firm had revenue of $124.36 million during the quarter, compared to analysts’ expectations of $125.16 million. During the same period in the previous year, the business earned $0.97 earnings per share. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, equities research analysts anticipate that MGP Ingredients, Inc. will post 1.65 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.4%. MGP Ingredients’s dividend payout ratio is presently -4.26%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MGPI. TD Cowen raised their price target on shares of MGP Ingredients from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Wells Fargo & Company upped their price objective on shares of MGP Ingredients from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MGP Ingredients in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MGP Ingredients has an average rating of “Hold” and an average price target of $27.25.

Institutional Trading of MGP Ingredients

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in shares of MGP Ingredients during the 2nd quarter valued at about $28,000. Global Retirement Partners LLC acquired a new stake in MGP Ingredients during the second quarter worth about $55,000. Public Employees Retirement System of Ohio purchased a new position in MGP Ingredients during the second quarter worth about $111,000. Palouse Capital Management Inc. raised its stake in MGP Ingredients by 187.2% during the second quarter. Palouse Capital Management Inc. now owns 8,805 shares of the company’s stock worth $154,000 after purchasing an additional 5,739 shares during the period. Finally, Corient Private Wealth LP purchased a new position in MGP Ingredients during the second quarter worth about $270,000. 77.11% of the stock is owned by institutional investors and hedge funds.

About MGP Ingredients

MGP Ingredients, Inc is a food, beverage and spirits company headquartered in Atchison, Kansas. Founded in 1941 as Midwest Grain Products, the company has developed from a grain-processing and distilling business into a diversified producer of specialty ingredients, distilled spirits and branded alcoholic beverages.

MGP’s Ingredient Solutions segment produces specialty wheat proteins and starches used in food applications, including meat alternatives, baked goods, snacks and other processed foods.