Blair William & Co. IL Makes New Investment in MGP Ingredients, Inc. (NASDAQ:MGPI)

Key Points

• Blair William & Co. IL has made a new investment of $332,000 in MGP Ingredients, acquiring approximately 11,315 shares of the company during the first quarter.
• Several institutional investors have increased their stakes in MGP Ingredients, with Penserra Capital Management boosting holdings by 333.3% and GAMMA Investing LLC increasing its position by 114.8%.
• Research analysts currently have a Moderate Buy average rating for MGP Ingredients, with a price target of $50.33, despite some reports recommending a sell rating.

Blair William & Co. IL bought a new position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,315 shares of the company's stock, valued at approximately $332,000. Blair William & Co. IL owned about 0.05% of MGP Ingredients at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Penserra Capital Management LLC grew its holdings in MGP Ingredients by 333.3% during the 1st quarter. Penserra Capital Management LLC now owns 897 shares of the company's stock worth $26,000 after acquiring an additional 690 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in MGP Ingredients by 58.3% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,996 shares of the company's stock worth $79,000 after acquiring an additional 735 shares during the last quarter. GAMMA Investing LLC grew its holdings in MGP Ingredients by 114.8% during the 1st quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock worth $44,000 after acquiring an additional 800 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MGP Ingredients by 21.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,662 shares of the company's stock worth $223,000 after acquiring an additional 1,015 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of MGP Ingredients by 56.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,000 shares of the company's stock valued at $88,000 after purchasing an additional 1,087 shares during the last quarter. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Stock Up 1.3%

Shares of MGP Ingredients stock traded up $0.37 during trading on Friday, reaching $28.78. 168,173 shares of the company traded hands, compared to its average volume of 217,069. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.91 and a quick ratio of 0.79. MGP Ingredients, Inc. has a 1-year low of $25.12 and a 1-year high of $92.52. The company has a 50 day moving average price of $30.03 and a 200-day moving average price of $30.59. The firm has a market capitalization of $612.81 million, a PE ratio of -92.84 and a beta of 0.33.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.33. MGP Ingredients had a negative net margin of 1.08% and a positive return on equity of 10.66%. The company had revenue of $145.49 million for the quarter, compared to the consensus estimate of $138.70 million. During the same quarter in the previous year, the company earned $1.71 EPS. MGP Ingredients's quarterly revenue was down 23.7% compared to the same quarter last year. As a group, equities research analysts expect that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, August 15th. This represents a $0.48 annualized dividend and a yield of 1.7%. MGP Ingredients's dividend payout ratio is presently -154.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MGPI shares. Truist Financial reduced their price objective on shares of MGP Ingredients from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen lowered shares of MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.33.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.