Several other research analysts also recently issued reports on MGPI. Craig Hallum reiterated a buy rating and set a $100.00 price target (down from $105.00) on shares of MGP Ingredients in a report on Wednesday, July 31st. Zacks Investment Research upgraded shares of MGP Ingredients from a hold rating to a buy rating and set a $61.00 price target for the company in a report on Saturday, August 3rd. TheStreet downgraded shares of MGP Ingredients from a b- rating to a c+ rating in a report on Monday, August 26th. Finally, ValuEngine downgraded shares of MGP Ingredients from a hold rating to a sell rating in a report on Monday, June 17th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $83.67.
Shares of NASDAQ:MGPI opened at $53.10 on Friday. The company has a fifty day moving average of $51.31 and a 200-day moving average of $66.77. The company has a market capitalization of $905.12 million, a PE ratio of 24.47 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.59 and a current ratio of 5.26. MGP Ingredients has a 52-week low of $44.12 and a 52-week high of $100.00.
MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.06). The company had revenue of $90.50 million for the quarter, compared to analyst estimates of $91.54 million. MGP Ingredients had a return on equity of 18.75% and a net margin of 10.00%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. On average, equities analysts forecast that MGP Ingredients will post 2.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 14th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. MGP Ingredients’s dividend payout ratio is 18.43%.
In other MGP Ingredients news, insider Augustus C. Griffin acquired 2,500 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average price of $47.75 per share, with a total value of $119,375.00. Following the completion of the purchase, the insider now directly owns 118,630 shares in the company, valued at approximately $5,664,582.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.26% of the company’s stock.
Several institutional investors have recently modified their holdings of MGPI. Dimensional Fund Advisors LP grew its stake in shares of MGP Ingredients by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 733,383 shares of the company’s stock worth $41,840,000 after purchasing an additional 3,196 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of MGP Ingredients by 628.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,132 shares of the company’s stock worth $242,000 after purchasing an additional 2,702 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of MGP Ingredients in the first quarter worth $263,000. Comerica Bank grew its stake in shares of MGP Ingredients by 2.3% in the first quarter. Comerica Bank now owns 37,706 shares of the company’s stock worth $2,929,000 after purchasing an additional 857 shares during the last quarter. Finally, Texas Permanent School Fund grew its stake in shares of MGP Ingredients by 4.4% in the first quarter. Texas Permanent School Fund now owns 8,636 shares of the company’s stock worth $666,000 after purchasing an additional 363 shares during the last quarter.
MGP Ingredients Company 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.
Featured Story: What does the Dow Jones Industrial Average (DJIA) measure?
Receive News & Ratings for MGP Ingredients Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGP Ingredients and related companies with MarketBeat.com's FREE daily email newsletter.