Goldman Sachs Group Inc. boosted its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 640,671 shares of the company’s stock after purchasing an additional 37,381 shares during the period. Goldman Sachs Group Inc. owned approximately 3.83% of MGP Ingredients worth $32,783,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of MGPI. Wells Fargo & Company MN grew its position in MGP Ingredients by 71.2% during the 1st quarter. Wells Fargo & Company MN now owns 31,590 shares of the company’s stock worth $1,713,000 after purchasing an additional 13,140 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in MGP Ingredients by 6.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 5,239 shares of the company’s stock worth $284,000 after purchasing an additional 302 shares during the last quarter. Envestnet Asset Management Inc. grew its position in MGP Ingredients by 24.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,200 shares of the company’s stock worth $173,000 after purchasing an additional 621 shares during the last quarter. Stifel Financial Corp grew its position in MGP Ingredients by 4.5% during the 1st quarter. Stifel Financial Corp now owns 7,084 shares of the company’s stock worth $383,000 after purchasing an additional 307 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in MGP Ingredients during the 1st quarter worth $186,000. 98.38% of the stock is currently owned by institutional investors.
In other MGP Ingredients news, Director Karen Seaberg sold 934 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $57.30, for a total transaction of $53,518.20. Following the completion of the sale, the director now owns 10,591 shares in the company, valued at $606,864.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 23.50% of the stock is owned by insiders.
Several brokerages have issued reports on MGPI. Zacks Investment Research raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised shares of MGP Ingredients from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th.
MGP Ingredients, Inc. (NASDAQ:MGPI) opened at 62.76 on Wednesday. MGP Ingredients, Inc. has a 12 month low of $31.93 and a 12 month high of $64.30. The stock has a market capitalization of $1.05 billion, a P/E ratio of 32.77 and a beta of 1.01. The firm’s 50-day moving average is $59.09 and its 200 day moving average is $55.12.
MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Thursday, August 3rd. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). MGP Ingredients had a net margin of 9.33% and a return on equity of 21.30%. The business had revenue of $85.80 million for the quarter, compared to the consensus estimate of $84.39 million. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts anticipate that MGP Ingredients, Inc. will post $1.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.16 annualized dividend and a yield of 0.25%. MGP Ingredients’s payout ratio is 8.42%.
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About MGP Ingredients
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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