Uniplan Investment Counsel Inc. decreased its holdings in shares of MGP Ingredients Inc (NASDAQ:MGPI) by 12.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,471 shares of the company’s stock after selling 13,471 shares during the quarter. Uniplan Investment Counsel Inc. owned about 0.58% of MGP Ingredients worth $7,777,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. MetLife Investment Advisors LLC increased its stake in MGP Ingredients by 12.5% during the second quarter. MetLife Investment Advisors LLC now owns 6,119 shares of the company’s stock worth $543,000 after acquiring an additional 679 shares during the last quarter. BB&T Corp grew its stake in shares of MGP Ingredients by 21.6% in the third quarter. BB&T Corp now owns 4,105 shares of the company’s stock valued at $324,000 after buying an additional 730 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of MGP Ingredients by 13.9% in the second quarter. Brown Advisory Inc. now owns 7,794 shares of the company’s stock valued at $692,000 after buying an additional 954 shares in the last quarter. NJ State Employees Deferred Compensation Plan grew its stake in shares of MGP Ingredients by 20.0% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 6,000 shares of the company’s stock valued at $474,000 after buying an additional 1,000 shares in the last quarter. Finally, Kessler Investment Group LLC grew its stake in shares of MGP Ingredients by 47.1% in the third quarter. Kessler Investment Group LLC now owns 3,159 shares of the company’s stock valued at $249,000 after buying an additional 1,011 shares in the last quarter.
A number of equities research analysts have recently weighed in on MGPI shares. BidaskClub cut MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. ValuEngine cut MGP Ingredients from a “buy” rating to a “hold” rating in a research note on Monday, August 20th. Finally, Zacks Investment Research cut MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Wednesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. MGP Ingredients has an average rating of “Hold” and an average target price of $87.33.
MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Thursday, November 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. The firm had revenue of $95.00 million during the quarter, compared to analyst estimates of $93.08 million. MGP Ingredients had a return on equity of 19.23% and a net margin of 10.48%. MGP Ingredients’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. Equities research analysts predict that MGP Ingredients Inc will post 2.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Thursday, November 15th were issued a $0.08 dividend. The ex-dividend date was Wednesday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.47%. MGP Ingredients’s dividend payout ratio (DPR) is presently 17.11%.
In other MGP Ingredients news, Director Karen Seaberg sold 7,644 shares of MGP Ingredients stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $78.69, for a total transaction of $601,506.36. Following the completion of the sale, the director now directly owns 11,864 shares of the company’s stock, valued at approximately $933,578.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP K. Pigott Thomas purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were acquired at an average cost of $65.91 per share, with a total value of $65,910.00. Following the completion of the acquisition, the vice president now directly owns 31,432 shares in the company, valued at $2,071,683.12. The disclosure for this purchase can be found here. Company insiders own 22.19% of the company’s stock.
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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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