Captrust Financial Advisors Cuts Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Captrust Financial Advisors decreased its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 6.0% during the 4th quarter, Holdings Channel reports. The fund owned 13,916 shares of the company’s stock after selling 882 shares during the quarter. Captrust Financial Advisors’ holdings in MGP Ingredients were worth $548,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Isthmus Partners LLC raised its position in shares of MGP Ingredients by 1.8% during the 4th quarter. Isthmus Partners LLC now owns 38,379 shares of the company’s stock worth $1,511,000 after acquiring an additional 684 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in MGP Ingredients by 56.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company’s stock valued at $75,000 after purchasing an additional 687 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MGP Ingredients by 21.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,662 shares of the company’s stock worth $223,000 after purchasing an additional 1,015 shares in the last quarter. Assetmark Inc. lifted its position in shares of MGP Ingredients by 9.6% during the 4th quarter. Assetmark Inc. now owns 12,475 shares of the company’s stock worth $491,000 after buying an additional 1,092 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of MGP Ingredients by 4.4% in the 4th quarter. Rhumbline Advisers now owns 41,464 shares of the company’s stock valued at $1,632,000 after buying an additional 1,754 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Up 1.2%

MGPI stock opened at $32.79 on Monday. The company has a market cap of $697.51 million, a price-to-earnings ratio of 6.82 and a beta of 0.32. The company has a fifty day moving average price of $29.67 and a 200 day moving average price of $36.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. MGP Ingredients, Inc. has a 12 month low of $25.12 and a 12 month high of $92.52.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The company had revenue of $121.65 million for the quarter, compared to analyst estimates of $119.14 million. During the same period in the previous year, the business posted $1.07 earnings per share. MGP Ingredients’s quarterly revenue was down 28.7% on a year-over-year basis. Sell-side analysts expect that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, May 16th. MGP Ingredients’s dividend payout ratio (DPR) is presently 106.67%.

Insider Buying and Selling at MGP Ingredients

In other news, Director Karen Seaberg sold 28,304 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $30.82, for a total value of $872,329.28. Following the completion of the sale, the director now owns 283,569 shares in the company, valued at approximately $8,739,596.58. This trade represents a 9.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Roper bought 15,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was purchased at an average cost of $33.10 per share, for a total transaction of $496,500.00. Following the acquisition, the director now owns 18,180 shares of the company’s stock, valued at approximately $601,758. This represents a 471.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 29,417 shares of company stock valued at $905,556 in the last ninety days. Insiders own 36.20% of the company’s stock.

Analysts Set New Price Targets

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

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.