Bank of New York Mellon Corp lowered its position in MGP Ingredients Inc (NASDAQ:MGPI) by 5.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 244,920 shares of the company’s stock after selling 13,463 shares during the quarter. Bank of New York Mellon Corp’s holdings in MGP Ingredients were worth $21,752,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Allianz Asset Management GmbH lifted its position in shares of MGP Ingredients by 11.6% during the 1st quarter. Allianz Asset Management GmbH now owns 183,558 shares of the company’s stock worth $16,444,000 after buying an additional 19,091 shares during the last quarter. Jennison Associates LLC lifted its position in shares of MGP Ingredients by 26.4% during the 2nd quarter. Jennison Associates LLC now owns 242,756 shares of the company’s stock worth $21,559,000 after buying an additional 50,671 shares during the last quarter. Rhumbline Advisers lifted its position in shares of MGP Ingredients by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 31,088 shares of the company’s stock worth $2,761,000 after buying an additional 1,297 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of MGP Ingredients during the 1st quarter worth approximately $2,010,000. Finally, UBS Group AG lifted its position in shares of MGP Ingredients by 11.5% during the 1st quarter. UBS Group AG now owns 6,492 shares of the company’s stock worth $581,000 after buying an additional 670 shares during the last quarter. Institutional investors own 99.13% of the company’s stock.
In other MGP Ingredients news, Director George W. Page, Jr. purchased 10,000 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, August 28th. The stock was purchased at an average price of $72.36 per share, for a total transaction of $723,600.00. Following the transaction, the director now directly owns 931 shares in the company, valued at $67,367.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen J. Glaser sold 390 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $75.32, for a total transaction of $29,374.80. Following the completion of the sale, the vice president now owns 15,405 shares of the company’s stock, valued at approximately $1,160,304.60. The disclosure for this sale can be found here. In the last quarter, insiders purchased 16,000 shares of company stock valued at $1,176,250 and sold 6,267 shares valued at $542,958. 22.19% of the stock is owned by corporate insiders.
Shares of NASDAQ:MGPI opened at $79.03 on Friday. The company has a market cap of $1.30 billion, a PE ratio of 42.26 and a beta of 0.94. The company has a quick ratio of 1.34, a current ratio of 4.70 and a debt-to-equity ratio of 0.22. MGP Ingredients Inc has a twelve month low of $57.05 and a twelve month high of $99.73.
MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.03). MGP Ingredients had a net margin of 12.13% and a return on equity of 18.65%. The business had revenue of $88.25 million during the quarter, compared to analysts’ expectations of $90.65 million. During the same quarter last year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. equities research analysts forecast that MGP Ingredients Inc will post 2.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Thursday, August 16th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $0.32 annualized dividend and a yield of 0.40%. MGP Ingredients’s dividend payout ratio (DPR) is 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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