O Shaughnessy Asset Management LLC Has $567,000 Holdings in MGP Ingredients, Inc. (MGPI)

O Shaughnessy Asset Management LLC raised its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 68.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,326 shares of the company’s stock after buying an additional 2,571 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in MGP Ingredients were worth $567,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Earnest Partners LLC purchased a new stake in MGP Ingredients in the 4th quarter valued at $115,000. Advisor Group Inc. grew its holdings in MGP Ingredients by 636.1% in the 4th quarter. Advisor Group Inc. now owns 2,488 shares of the company’s stock valued at $191,000 after buying an additional 2,150 shares in the last quarter. Commerce Bank purchased a new stake in MGP Ingredients in the 1st quarter valued at $202,000. Millennium Management LLC purchased a new stake in MGP Ingredients in the 4th quarter valued at $219,000. Finally, Gamco Investors INC. ET AL purchased a new stake in MGP Ingredients in the 4th quarter valued at $228,000. Institutional investors own 93.93% of the company’s stock.

In other news, Director Karen Seaberg sold 7,270 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $82.14, for a total value of $597,157.80. Following the transaction, the director now owns 10,934 shares of the company’s stock, valued at approximately $898,118.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael Rodger Buttshaw sold 700 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $77.62, for a total value of $54,334.00. Following the completion of the transaction, the vice president now directly owns 12,790 shares in the company, valued at approximately $992,759.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,595 shares of company stock worth $3,951,162. Corporate insiders own 22.19% of the company’s stock.

MGPI has been the subject of several analyst reports. Sidoti upgraded MGP Ingredients from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. Zacks Investment Research cut MGP Ingredients from a “buy” rating to a “sell” rating in a report on Thursday, February 22nd. Craig Hallum restated a “buy” rating and issued a $105.00 target price (up from $90.00) on shares of MGP Ingredients in a report on Monday, January 29th. BidaskClub upgraded MGP Ingredients from a “buy” rating to a “strong-buy” rating in a report on Friday, April 20th. Finally, Stifel Nicolaus dropped their target price on MGP Ingredients from $76.00 to $73.00 and set a “hold” rating for the company in a report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $87.33.

Shares of MGP Ingredients stock opened at $86.58 on Friday. MGP Ingredients, Inc. has a 52 week low of $47.64 and a 52 week high of $98.65. The firm has a market capitalization of $1.46 billion, a PE ratio of 47.62, a price-to-earnings-growth ratio of 2.71 and a beta of 1.05. The company has a current ratio of 4.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.18.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). MGP Ingredients had a net margin of 11.83% and a return on equity of 18.46%. The business had revenue of $88.00 million during the quarter, compared to analyst estimates of $92.80 million. During the same period last year, the company earned $0.50 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. equities analysts forecast that MGP Ingredients, Inc. will post 2.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Wednesday, May 16th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Tuesday, May 15th. MGP Ingredients’s dividend payout ratio (DPR) is presently 17.11%.

MGP Ingredients 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.

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

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