Invesco Ltd. Buys 12,472 Shares of MGP Ingredients, Inc. $MGPI

Key Points

• Invesco Ltd. increased its stake in MGP Ingredients, Inc. by 14.6%, owning 98,106 shares valued at approximately $2.88 million.
• MGP Ingredients reported a quarterly revenue of $145.49 million, surpassing expectations, but showed a 23.7% decrease year-over-year.
• The company announced a quarterly dividend of $0.12 per share, resulting in an annualized dividend yield of 1.6%.

Invesco Ltd. increased its stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 14.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,106 shares of the company's stock after acquiring an additional 12,472 shares during the period. Invesco Ltd. owned approximately 0.46% of MGP Ingredients worth $2,882,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC bought a new position in MGP Ingredients during the 4th quarter valued at about $12,932,000. Federated Hermes Inc. lifted its holdings in shares of MGP Ingredients by 576.4% during the 1st quarter. Federated Hermes Inc. now owns 262,329 shares of the company's stock worth $7,707,000 after acquiring an additional 223,548 shares during the period. Deutsche Bank AG raised its position in MGP Ingredients by 1,564.2% in the first quarter. Deutsche Bank AG now owns 214,060 shares of the company's stock valued at $6,289,000 after purchasing an additional 201,197 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in MGP Ingredients during the fourth quarter valued at $7,164,000. Finally, Millennium Management LLC raised its position in shares of MGP Ingredients by 383.8% during the fourth quarter. Millennium Management LLC now owns 166,153 shares of the company's stock worth $6,541,000 after purchasing an additional 131,811 shares during the period. 77.11% of the stock is currently owned by institutional investors and hedge funds.

MGP Ingredients Stock Performance

NASDAQ MGPI traded down $0.12 on Wednesday, hitting $29.19. 70,722 shares of the company's stock traded hands, compared to its average volume of 334,397. 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 1-year low of $25.12 and a 1-year high of $90.31. The firm's 50-day moving average price is $29.98 and its two-hundred day moving average price is $30.19. The firm has a market capitalization of $621.46 million, a PE ratio of -93.85 and a beta of 0.35.

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

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 15th. MGP Ingredients's dividend payout ratio (DPR) is presently -154.84%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded MGP Ingredients from a "hold" rating to a "sell" rating in a research report on Saturday, May 10th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.33.

About MGP Ingredients

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.