MGP Ingredients (NASDAQ:MGPI) Getting Somewhat Positive News Coverage, Report Shows

News stories about MGP Ingredients (NASDAQ:MGPI) have trended somewhat positive recently, according to Accern. The research firm scores the sentiment of media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. MGP Ingredients earned a news sentiment score of 0.16 on Accern’s scale. Accern also gave media headlines about the company an impact score of 45.3765004053966 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

MGPI has been the subject of several recent research reports. Zacks Investment Research lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Sidoti downgraded shares of MGP Ingredients from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. BidaskClub downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Craig Hallum set a $70.00 target price on shares of MGP Ingredients and gave the company a “buy” rating in a research note on Saturday, May 6th.

Shares of MGP Ingredients (NASDAQ:MGPI) traded up 0.89% on Friday, reaching $58.07. 89,214 shares of the company’s stock traded hands. The firm’s 50 day moving average is $56.38 and its 200 day moving average is $51.91. MGP Ingredients has a 52 week low of $31.93 and a 52 week high of $62.00. The firm has a market capitalization of $970.64 million, a P/E ratio of 30.32 and a beta of 1.01.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.03. MGP Ingredients had a return on equity of 21.30% and a net margin of 9.33%. The business had revenue of $85.80 million for the quarter, compared to analysts’ expectations of $84.39 million. The business’s revenue was up 6.7% on a year-over-year basis. Analysts expect that MGP Ingredients will post $1.69 earnings per share for the current fiscal year.

The company also recently announced a special dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be given a $0.85 dividend. The ex-dividend date is Wednesday, August 16th. This represents a dividend yield of 0.27%. MGP Ingredients’s payout ratio is 8.42%.

In related news, Director Karen Seaberg sold 6,288 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $51.42, for a total transaction of $323,328.96. Following the completion of the transaction, the director now owns 10,591 shares in the company, valued at approximately $544,589.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.50% of the company’s stock.

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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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