MGP Ingredients, Inc. (NASDAQ:MGPI – Free Report) Director Karen Seaberg sold 4,264 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $106.59, for a total transaction of $454,499.76. Following the transaction, the director now owns 55,698 shares of the company’s stock, valued at approximately $5,936,849.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via the SEC website.
Karen Seaberg also recently made the following trade(s):
- On Wednesday, July 5th, Karen Seaberg sold 7,334 shares of MGP Ingredients stock. The stock was sold at an average price of $106.58, for a total transaction of $781,657.72.
- On Tuesday, June 20th, Karen Seaberg sold 985 shares of MGP Ingredients stock. The stock was sold at an average price of $101.70, for a total transaction of $100,174.50.
- On Tuesday, May 30th, Karen Seaberg sold 3,692 shares of MGP Ingredients stock. The stock was sold at an average price of $94.92, for a total transaction of $350,444.64.
- On Thursday, May 25th, Karen Seaberg sold 608 shares of MGP Ingredients stock. The stock was sold at an average price of $99.71, for a total transaction of $60,623.68.
MGP Ingredients Stock Performance
NASDAQ:MGPI opened at $106.20 on Friday. MGP Ingredients, Inc. has a 1 year low of $90.68 and a 1 year high of $125.74. The firm has a 50 day moving average of $101.27 and a 200-day moving average of $99.78. The company has a current ratio of 4.65, a quick ratio of 1.63 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $2.33 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92.
MGP Ingredients (NASDAQ:MGPI – Free Report) last posted its earnings results on Thursday, May 4th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.29. MGP Ingredients has a net margin of 12.97% and a return on equity of 13.86%. The company had revenue of $201.01 million during the quarter, compared to analysts’ expectations of $194.43 million. During the same quarter in the previous year, the company posted $1.69 earnings per share. MGP Ingredients’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that MGP Ingredients, Inc. will post 5.2 EPS for the current fiscal year.
MGP Ingredients Announces Dividends
The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 19th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Thursday, May 18th. MGP Ingredients’s dividend payout ratio is currently 10.41%.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on shares of MGP Ingredients in a research note on Thursday, May 18th. They set a “hold” rating for the company.
Institutional Trading of MGP Ingredients
A number of hedge funds and other institutional investors have recently modified their holdings of MGPI. North Star Investment Management Corp. acquired a new stake in shares of MGP Ingredients in the fourth quarter valued at approximately $32,000. Money Concepts Capital Corp acquired a new stake in shares of MGP Ingredients in the fourth quarter valued at approximately $32,000. Steward Financial Group LLC acquired a new stake in shares of MGP Ingredients in the fourth quarter valued at approximately $34,000. Bessemer Group Inc. acquired a new stake in shares of MGP Ingredients in the first quarter valued at approximately $55,000. Finally, Lazard Asset Management LLC increased its holdings in shares of MGP Ingredients by 219.0% in the fourth quarter. Lazard Asset Management LLC now owns 721 shares of the company’s stock valued at $76,000 after purchasing an additional 495 shares in the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.
MGP Ingredients Company Profile
MGP Ingredients, Inc., together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients in the United States and internationally. It operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions. The Distillery Solutions segment provides food grade alcohol for beverage applications that include bourbon and rye, whiskeys, as well as grain neutral spirits, including vodka and gin; and food-grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.
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