MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg Sells 1,109 Shares

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 1,109 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total transaction of $99,965.26. Following the transaction, the director now owns 134,969 shares in the company, valued at approximately $12,166,105.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Karen Seaberg also recently made the following trade(s):

• On Friday, August 23rd, Karen Seaberg sold 12,092 shares of MGP Ingredients stock. The shares were sold at an average price of $90.65, for a total transaction of $1,096,139.80.

MGP Ingredients Stock Performance

NASDAQ MGPI opened at $87.91 on Friday. MGP Ingredients, Inc. has a 1 year low of $68.86 and a 1 year high of $116.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.44 and a quick ratio of 2.22. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.30 and a beta of 0.59. The company has a fifty day moving average price of $82.16 and a 200-day moving average price of $80.69.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.17. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The firm had revenue of $190.80 million during the quarter, compared to analyst estimates of $189.06 million. During the same quarter in the prior year, the business posted $1.49 EPS. The business’s revenue was down 8.7% compared to the same quarter last year. As a group, equities research analysts predict that MGP Ingredients, Inc. will post 6.25 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 16th. This represents a $0.48 annualized dividend and a yield of 0.55%. MGP Ingredients’s payout ratio is currently 11.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Roth Mkm restated a “buy” rating and issued a $92.00 target price on shares of MGP Ingredients in a report on Thursday, July 25th. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Monday, August 5th.

Hedge Funds Weigh In On MGP Ingredients

Several institutional investors have recently added to or reduced their stakes in MGPI. CWM LLC grew its position in MGP Ingredients by 477.9% during the second quarter. CWM LLC now owns 393 shares of the company’s stock valued at $29,000 after buying an additional 325 shares during the period. Isthmus Partners LLC grew its position in MGP Ingredients by 2.1% during the second quarter. Isthmus Partners LLC now owns 41,427 shares of the company’s stock valued at $31,000 after buying an additional 860 shares during the period. Innealta Capital LLC bought a new position in MGP Ingredients during the second quarter valued at about $42,000. LRI Investments LLC bought a new position in MGP Ingredients during the first quarter valued at about $43,000. Finally, Covestor Ltd grew its position in MGP Ingredients by 23.3% during the first quarter. Covestor Ltd now owns 795 shares of the company’s stock valued at $68,000 after buying an additional 150 shares during the period. 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.