Dimensional Fund Advisors LP trimmed its stake in shares of MGP Ingredients Inc (NASDAQ:MGPI) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 732,833 shares of the company’s stock after selling 24,550 shares during the quarter. Dimensional Fund Advisors LP owned 4.35% of MGP Ingredients worth $65,084,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Kessler Investment Group LLC bought a new position in MGP Ingredients in the 2nd quarter worth about $191,000. Millennium Management LLC bought a new position in MGP Ingredients in the 4th quarter worth about $219,000. Koch Industries Inc. bought a new position in MGP Ingredients in the 1st quarter worth about $225,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in MGP Ingredients in the 2nd quarter worth about $237,000. Finally, SG Americas Securities LLC bought a new position in MGP Ingredients in the 2nd quarter worth about $311,000. Institutional investors own 98.16% of the company’s stock.
A number of equities analysts have weighed in on the company. BidaskClub upgraded MGP Ingredients from a “hold” rating to a “buy” rating in a research note on Thursday. ValuEngine upgraded MGP Ingredients from a “hold” rating to a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $87.33.
In other news, Director Karen Seaberg sold 1,266 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $79.48, for a total transaction of $100,621.68. Following the transaction, the director now directly owns 11,864 shares in the company, valued at approximately $942,950.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Augustus C. Griffin bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The shares were bought at an average price of $75.05 per share, with a total value of $75,050.00. Following the completion of the acquisition, the insider now directly owns 120,775 shares in the company, valued at $9,064,163.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 16,000 shares of company stock worth $1,176,250 and have sold 20,475 shares worth $1,606,841. 22.19% of the stock is currently owned by corporate insiders.
Shares of MGP Ingredients stock traded down $0.18 during trading on Friday, hitting $74.31. 124,687 shares of the stock traded hands, compared to its average volume of 186,121. The company has a current ratio of 4.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.33 billion, a PE ratio of 39.74 and a beta of 0.96. MGP Ingredients Inc has a 52 week low of $61.74 and a 52 week high of $99.73.
MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.03). The firm had revenue of $88.25 million for the quarter, compared to the consensus estimate of $90.65 million. MGP Ingredients had a net margin of 12.13% and a return on equity of 18.65%. MGP Ingredients’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share. As a group, analysts predict that MGP Ingredients Inc will post 2.1 earnings per share for the current fiscal year.
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.
Recommended Story: Short Selling
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.