UBS Asset Management Americas Inc. Acquires 456 Shares of MGP Ingredients Inc (NASDAQ:MGPI)

UBS Asset Management Americas Inc. boosted its holdings in MGP Ingredients Inc (NASDAQ:MGPI) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,417 shares of the company’s stock after acquiring an additional 456 shares during the period. UBS Asset Management Americas Inc.’s holdings in MGP Ingredients were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Morgan Stanley boosted its stake in MGP Ingredients by 228.3% in the second quarter. Morgan Stanley now owns 73,109 shares of the company’s stock valued at $4,848,000 after buying an additional 50,843 shares in the last quarter. Paloma Partners Management Co raised its position in MGP Ingredients by 419.4% in the second quarter. Paloma Partners Management Co now owns 17,544 shares of the company’s stock valued at $1,163,000 after purchasing an additional 14,166 shares during the last quarter. Bank of America Corp DE raised its position in MGP Ingredients by 208.3% in the second quarter. Bank of America Corp DE now owns 411,845 shares of the company’s stock valued at $27,309,000 after purchasing an additional 278,254 shares during the last quarter. Marshall Wace North America L.P. raised its position in MGP Ingredients by 1,966.0% in the second quarter. Marshall Wace North America L.P. now owns 9,979 shares of the company’s stock valued at $661,000 after purchasing an additional 9,496 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in MGP Ingredients by 9.7% in the second quarter. Vanguard Group Inc. now owns 913,858 shares of the company’s stock valued at $60,598,000 after purchasing an additional 80,664 shares during the last quarter.

In related news, insider Augustus C. Griffin acquired 2,500 shares of the stock in a transaction dated Tuesday, August 20th. The stock was bought at an average cost of $47.75 per share, for a total transaction of $119,375.00. Following the completion of the transaction, the insider now directly owns 118,630 shares of the company’s stock, valued at $5,664,582.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.26% of the stock is owned by company insiders.

Shares of MGPI traded down $0.59 during mid-day trading on Friday, reaching $46.30. 77,307 shares of the company were exchanged, compared to its average volume of 102,668. MGP Ingredients Inc has a 52 week low of $44.12 and a 52 week high of $100.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.59 and a current ratio of 5.26. The stock has a market capitalization of $798.30 million, a PE ratio of 21.34 and a beta of 1.60. The business has a 50 day simple moving average of $49.68 and a two-hundred day simple moving average of $61.97.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.06). MGP Ingredients had a return on equity of 18.75% and a net margin of 10.00%. The company had revenue of $90.50 million for the quarter, compared to the consensus estimate of $91.54 million. During the same quarter last year, the business earned $0.44 earnings per share. MGP Ingredients’s revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that MGP Ingredients Inc will post 2.65 EPS for the current year.

Several equities analysts have commented on the company. Zacks Investment Research downgraded MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub downgraded MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. TheStreet downgraded MGP Ingredients from a “b-” rating to a “c+” rating in a research report on Monday, August 26th. ValuEngine upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Craig Hallum reiterated a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of MGP Ingredients in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $83.67.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products 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.

Further Reading: Rule of 72

Institutional Ownership by Quarter for MGP Ingredients (NASDAQ:MGPI)

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