MGP Ingredients (NASDAQ:MGPI) Downgraded by StockNews.com

StockNews.com lowered shares of MGP Ingredients (NASDAQ:MGPI) from a hold rating to a sell rating in a research note issued to investors on Friday.

Several other research firms have also commented on MGPI. Wedbush reiterated an outperform rating and issued a $120.00 price target on shares of MGP Ingredients in a research report on Wednesday, April 10th. Roth Mkm lowered their price target on shares of MGP Ingredients from $100.00 to $95.00 and set a buy rating on the stock in a research report on Thursday, April 25th.

MGP Ingredients Trading Up 1.2 %

Shares of MGPI opened at $81.54 on Friday. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average is $82.46 and its two-hundred day moving average is $89.30. MGP Ingredients has a twelve month low of $75.78 and a twelve month high of $124.96. The firm has a market capitalization of $1.79 billion, a P/E ratio of 16.99, a PEG ratio of 1.19 and a beta of 0.76.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.26. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The company had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. During the same period in the prior year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, research analysts predict that MGP Ingredients will post 6.18 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Thursday, March 14th. MGP Ingredients’s payout ratio is 10.00%.

Insider Activity at MGP Ingredients

In other news, VP Erika Lapish acquired 500 shares of MGP Ingredients stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $77.86 per share, with a total value of $38,930.00. Following the completion of the purchase, the vice president now owns 550 shares of the company’s stock, valued at approximately $42,823. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 28.70% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

Institutional investors and hedge funds have recently modified their holdings of the company. Mariner LLC raised its stake in MGP Ingredients by 0.3% during the third quarter. Mariner LLC now owns 54,569 shares of the company’s stock worth $5,756,000 after purchasing an additional 142 shares during the period. KLR Investment Advisors LLC raised its stake in MGP Ingredients by 5.8% during the third quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock worth $282,000 after purchasing an additional 159 shares during the period. Cerity Partners LLC raised its stake in MGP Ingredients by 9.3% during the fourth quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock worth $215,000 after purchasing an additional 186 shares during the period. Illinois Municipal Retirement Fund raised its stake in MGP Ingredients by 2.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 9,366 shares of the company’s stock worth $923,000 after purchasing an additional 206 shares during the period. Finally, Assetmark Inc. raised its stake in MGP Ingredients by 3.0% during the third quarter. Assetmark Inc. now owns 8,662 shares of the company’s stock worth $914,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 77.11% 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.