38,781 Shares in MGP Ingredients, Inc. (NASDAQ:MGPI) Bought by Federated Hermes Inc.

Federated Hermes Inc. bought a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 38,781 shares of the company’s stock, valued at approximately $1,527,000. Federated Hermes Inc. owned about 0.18% of MGP Ingredients at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in MGP Ingredients by 162.0% in the fourth quarter. GAMMA Investing LLC now owns 697 shares of the company’s stock valued at $27,000 after purchasing an additional 431 shares during the period. Versant Capital Management Inc grew its stake in shares of MGP Ingredients by 192.5% in the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company’s stock valued at $28,000 after buying an additional 460 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of MGP Ingredients by 56.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company’s stock valued at $75,000 after buying an additional 687 shares during the period. AlphaQuest LLC lifted its position in MGP Ingredients by 1,167.8% during the 4th quarter. AlphaQuest LLC now owns 3,778 shares of the company’s stock worth $149,000 after acquiring an additional 3,480 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in MGP Ingredients in the 3rd quarter worth approximately $235,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MGPI shares. Lake Street Capital upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating and cut their price objective for the stock from $55.00 to $45.00 in a report on Thursday, February 27th. Roth Mkm cut their price target on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Wells Fargo & Company lowered their price objective on MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, StockNews.com lowered MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One 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’s stock. According to MarketBeat.com, MGP Ingredients currently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

MGP Ingredients Trading Down 4.1 %

MGP Ingredients stock opened at $27.15 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. MGP Ingredients, Inc. has a 1 year low of $25.12 and a 1 year high of $92.52. The firm’s 50-day moving average is $30.83 and its 200-day moving average is $42.91. The company has a market cap of $577.48 million, a P/E ratio of 5.64 and a beta of 0.61.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Friday, March 14th. MGP Ingredients’s dividend payout ratio (DPR) is presently 31.79%.

Insider Transactions at MGP Ingredients

In related news, Director Karen Seaberg sold 28,304 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $30.82, for a total transaction of $872,329.28. Following the completion of the transaction, the director now directly owns 283,569 shares in the company, valued at $8,739,596.58. This represents a 9.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 36.20% of the company’s stock.

MGP Ingredients Company Profile

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.