UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.04 Million Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 93.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,364 shares of the company’s stock after selling 396,143 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MGP Ingredients were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Proficio Capital Partners LLC bought a new position in shares of MGP Ingredients in the 4th quarter worth $832,000. Northern Trust Corp raised its stake in MGP Ingredients by 12.9% in the 4th quarter. Northern Trust Corp now owns 159,121 shares of the company’s stock valued at $6,265,000 after acquiring an additional 18,139 shares during the period. Principal Financial Group Inc. raised its stake in MGP Ingredients by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 68,634 shares of the company’s stock valued at $2,702,000 after acquiring an additional 1,973 shares during the period. Entropy Technologies LP bought a new stake in MGP Ingredients in the 4th quarter valued at about $335,000. Finally, Raymond James Financial Inc. purchased a new position in MGP Ingredients during the 4th quarter valued at about $13,125,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

Insider Activity at MGP Ingredients

In related news, Director Karen Seaberg sold 28,304 shares of the business’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 transaction, the director now directly owns 283,569 shares in the company, valued at $8,739,596.58. The trade was a 9.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Martin Roper purchased 15,000 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $33.10 per share, for a total transaction of $496,500.00. Following the purchase, the director now owns 18,180 shares in the company, valued at approximately $601,758. The trade was a 471.70% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 29,417 shares of company stock worth $905,556 in the last quarter. 36.20% of the stock is owned by company insiders.

MGP Ingredients Stock Up 2.5%

MGPI stock opened at $29.02 on Tuesday. The business’s 50-day moving average is $29.72 and its two-hundred day moving average is $34.07. 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 fifty-two week low of $25.12 and a fifty-two week high of $92.52. The company has a market cap of $617.31 million, a price-to-earnings ratio of 6.03 and a beta of 0.32.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. The company had revenue of $121.65 million for the quarter, compared to the consensus estimate of $119.14 million. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The firm’s quarterly revenue was down 28.7% on a year-over-year basis. During the same quarter last year, the company earned $1.07 EPS. As a group, analysts forecast that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, May 16th. MGP Ingredients’s dividend payout ratio (DPR) is 106.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Lake Street Capital upgraded MGP Ingredients from a “hold” rating to a “buy” rating and decreased their target price for the company from $55.00 to $45.00 in a report on Thursday, February 27th. Wall Street Zen downgraded MGP Ingredients from a “hold” rating to a “sell” rating in a report on Saturday, May 10th. Finally, Truist Financial cut their target price on MGP Ingredients from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.33.

About MGP Ingredients

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.