MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Sold by Semanteon Capital Management LP

Semanteon Capital Management LP lessened its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 17.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,522 shares of the company’s stock after selling 2,893 shares during the quarter. Semanteon Capital Management LP’s holdings in MGP Ingredients were worth $1,126,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Scout Investments Inc. grew its holdings in MGP Ingredients by 30.5% during the first quarter. Scout Investments Inc. now owns 85,820 shares of the company’s stock worth $7,325,000 after acquiring an additional 20,073 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of MGP Ingredients by 239.2% in the first quarter. Mutual of America Capital Management LLC now owns 64,557 shares of the company’s stock valued at $5,560,000 after purchasing an additional 45,527 shares during the period. Congress Wealth Management LLC DE boosted its holdings in MGP Ingredients by 41.9% during the first quarter. Congress Wealth Management LLC DE now owns 50,263 shares of the company’s stock worth $4,329,000 after buying an additional 14,843 shares in the last quarter. Natixis Advisors LLC boosted its holdings in MGP Ingredients by 107.9% during the second quarter. Natixis Advisors LLC now owns 25,686 shares of the company’s stock worth $1,911,000 after buying an additional 13,332 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. grew its position in MGP Ingredients by 2.5% during the third quarter. ZWJ Investment Counsel Inc. now owns 293,580 shares of the company’s stock worth $24,440,000 after buying an additional 7,042 shares during the period. 77.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGPI has been the topic of a number of research reports. Roth Mkm lowered their price target on MGP Ingredients from $92.00 to $88.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Truist Financial decreased their price objective on shares of MGP Ingredients from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Lake Street Capital downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and dropped their target price for the company from $135.00 to $75.00 in a report on Friday, October 18th. StockNews.com cut shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, Loop Capital set a $75.00 price target on shares of MGP Ingredients in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $88.60.

Insiders Place Their Bets

In related news, Director Karen Seaberg sold 1,109 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total transaction of $99,965.26. Following the completion of the transaction, the director now owns 134,969 shares of the company’s stock, valued at $12,166,105.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 36.20% of the stock is currently owned by insiders.

MGP Ingredients Stock Up 1.5 %

Shares of MGPI stock traded up $0.84 during mid-day trading on Monday, reaching $58.21. 24,456 shares of the company were exchanged, compared to its average volume of 218,724. The company has a market capitalization of $1.28 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.94 and a beta of 0.59. The business’s 50 day simple moving average is $81.32 and its 200 day simple moving average is $79.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.22 and a current ratio of 6.44. MGP Ingredients, Inc. has a fifty-two week low of $56.50 and a fifty-two week high of $102.42.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.17. MGP Ingredients had a return on equity of 14.98% and a net margin of 12.18%. The company had revenue of $190.80 million for the quarter, compared to analysts’ expectations of $189.06 million. During the same period last year, the business posted $1.49 earnings per share. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. Research analysts predict that MGP Ingredients, Inc. will post 5.58 earnings per share for the current year.

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.48 annualized dividend and a yield of 0.82%. MGP Ingredients’s payout ratio is 11.11%.

MGP Ingredients 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.