Counterpoint Mutual Funds LLC Purchases Shares of 13,524 MGP Ingredients, Inc. $MGPI

Key Points

• Counterpoint Mutual Funds LLC has purchased 13,524 shares of MGP Ingredients, Inc., valued at approximately $405,000, marking its first position in the company.
• MGP Ingredients reported a quarterly EPS of $0.97, exceeding estimates, but experienced a 23.7% decline in revenue year-over-year.
• The company recently announced a dividend of $0.12 per share, with a yield of 1.8%, despite a negative dividend payout ratio of -154.84%.

Counterpoint Mutual Funds LLC acquired a new position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,524 shares of the company's stock, valued at approximately $405,000. Counterpoint Mutual Funds LLC owned approximately 0.06% of MGP Ingredients as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in MGP Ingredients by 89.0% in the second quarter. GAMMA Investing LLC now owns 2,829 shares of the company's stock valued at $85,000 after purchasing an additional 1,332 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of MGP Ingredients by 10.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 158,879 shares of the company's stock valued at $4,668,000 after buying an additional 14,501 shares during the period. Rhumbline Advisers lifted its position in MGP Ingredients by 24.9% during the 1st quarter. Rhumbline Advisers now owns 51,780 shares of the company's stock worth $1,521,000 after acquiring an additional 10,316 shares in the last quarter. Caxton Associates LLP acquired a new position in MGP Ingredients during the 1st quarter worth approximately $1,449,000. Finally, Millennium Management LLC boosted its holdings in MGP Ingredients by 116.6% in the 1st quarter. Millennium Management LLC now owns 359,813 shares of the company's stock worth $10,571,000 after acquiring an additional 193,660 shares during the period. 77.11% of the stock is owned by hedge funds and other institutional investors.

MGP Ingredients Trading Down 2.7%

NASDAQ MGPI opened at $26.03 on Wednesday. The stock has a market cap of $554.18 million, a P/E ratio of -83.97 and a beta of 0.35. The company's fifty day simple moving average is $28.94 and its 200-day simple moving average is $29.67. The company has a current ratio of 2.91, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35. MGP Ingredients, Inc. has a 52 week low of $25.12 and a 52 week high of $84.76.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.33. The firm had revenue of $145.49 million for the quarter, compared to the consensus estimate of $138.70 million. MGP Ingredients had a negative net margin of 1.08% and a positive return on equity of 10.66%. The firm's quarterly revenue was down 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 EPS. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. Equities research analysts predict that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, August 15th. MGP Ingredients's dividend payout ratio is -154.84%.

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.

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