MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) insider Paul Lux sold 33,000 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $17.76, for a total value of $586,080.00. Following the completion of the transaction, the insider directly owned 550,458 shares in the company, valued at $9,776,134.08. This trade represents a 5.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
MGP Ingredients Stock Down 0.6%
MGPI stock opened at $17.95 on Tuesday. MGP Ingredients, Inc. has a twelve month low of $15.72 and a twelve month high of $30.01. The company has a quick ratio of 1.65, a current ratio of 6.99 and a debt-to-equity ratio of 0.61. The stock has a market cap of $384.31 million, a P/E ratio of -1.59 and a beta of 0.47. The business's 50-day moving average price is $17.39 and its 200-day moving average price is $18.83.
MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.23. MGP Ingredients had a negative net margin of 48.08% and a positive return on equity of 7.41%. The company had revenue of $124.36 million during the quarter, compared to analyst estimates of $125.16 million. During the same period in the prior year, the firm posted $0.97 EPS. The firm's quarterly revenue was down 14.5% compared to the same quarter last year. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. On average, equities research analysts forecast that MGP Ingredients, Inc. will post 1.65 EPS for the current year.
MGP Ingredients Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, August 14th. MGP Ingredients's dividend payout ratio is presently -4.26%.
Analyst Ratings Changes
MGPI has been the topic of several recent analyst reports. Zacks Research upgraded shares of MGP Ingredients from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. Wells Fargo & Company increased their price target on MGP Ingredients from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. TD Cowen raised their price target on MGP Ingredients from $18.00 to $20.00 and gave the company a "hold" rating in a report on Thursday, July 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of MGP Ingredients in a research report on Friday, July 31st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MGP Ingredients has a consensus rating of "Hold" and a consensus target price of $27.25.
Read Our Latest Stock Analysis on MGP Ingredients
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tieton Capital Management LLC purchased a new position in shares of MGP Ingredients during the fourth quarter valued at about $5,998,000. Pacer Advisors Inc. bought a new position in MGP Ingredients during the fourth quarter valued at approximately $2,278,000. Arrowstreet Capital Limited Partnership bought a new stake in MGP Ingredients in the 1st quarter worth approximately $2,725,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of MGP Ingredients during the 1st quarter worth approximately $3,064,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of MGP Ingredients by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 760,128 shares of the company's stock worth $13,979,000 after acquiring an additional 78,849 shares in the last quarter. Institutional investors own 77.11% of the company's stock.
MGP Ingredients Company Profile
(
Get Free Report)
MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.
The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
