Key Points
- MGP Ingredients insider Leslie Lux sold 27,731 shares at an average price of $14.40, totaling approximately $399,326. The transaction was disclosed in a Securities and Exchange Commission filing.
- MGPI shares opened at $14.13, near their 52-week low of $14.02 and well below their 50-day and 200-day moving averages. The company reported quarterly EPS of $0.72, beating estimates, but revenue fell 14.5% year over year.
- The company maintains a quarterly dividend of $0.12 per share, equivalent to a 3.4% annual yield. Analysts have a consensus “Hold” rating, with an average price target of $27.25.
MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) insider Leslie Lux sold 27,731 shares of the firm's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $14.40, for a total value of $399,326.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
MGP Ingredients Stock Down 1.8%
MGP Ingredients stock opened at $14.13 on Friday. The stock's 50 day moving average price is $17.07 and its 200 day moving average price is $17.68. MGP Ingredients, Inc. has a 1-year low of $14.02 and a 1-year high of $27.94. The company has a market cap of $302.52 million, a PE ratio of -1.25 and a beta of 0.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.99 and a quick ratio of 1.65.
MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its quarterly earnings data 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 positive return on equity of 7.41% and a negative net margin of 48.08%.The firm had revenue of $124.36 million during the quarter, compared to analysts' expectations of $125.16 million. During the same quarter in the prior year, the business posted $0.97 earnings per share. MGP Ingredients's 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, sell-side analysts predict that MGP Ingredients, Inc. will post 1.65 EPS for the current fiscal year.
MGP Ingredients Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.4%. MGP Ingredients's dividend payout ratio is -4.26%.
Institutional Trading of MGP Ingredients
A number of institutional investors have recently bought and sold shares of MGPI. Legal & General Group Plc purchased a new stake in MGP Ingredients during the second quarter worth $28,000. Global Retirement Partners LLC purchased a new position in shares of MGP Ingredients in the second quarter valued at $55,000. Public Employees Retirement System of Ohio purchased a new position in shares of MGP Ingredients in the second quarter valued at $111,000. Palouse Capital Management Inc. raised its stake in shares of MGP Ingredients by 187.2% during the 2nd quarter. Palouse Capital Management Inc. now owns 8,805 shares of the company's stock worth $154,000 after buying an additional 5,739 shares during the last quarter. Finally, Corient Private Wealth LP acquired a new position in shares of MGP Ingredients during the 2nd quarter worth $270,000. 77.11% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently commented on MGPI shares. Wells Fargo & Company raised their price objective on shares of MGP Ingredients from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. TD Cowen upped their target price on shares of MGP Ingredients from $18.00 to $20.00 and gave the stock a "hold" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MGP Ingredients in a report on Friday, July 31st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MGP Ingredients presently has a consensus rating of "Hold" and an average target price of $27.25.
Check Out Our Latest Research Report on MGP Ingredients
About MGP Ingredients
(
Get Free Report)
MGP Ingredients, Inc is a food, beverage and spirits company headquartered in Atchison, Kansas. Founded in 1941 as Midwest Grain Products, the company has developed from a grain-processing and distilling business into a diversified producer of specialty ingredients, distilled spirits and branded alcoholic beverages.
MGP's Ingredient Solutions segment produces specialty wheat proteins and starches used in food applications, including meat alternatives, baked goods, snacks and other processed foods.
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