UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.04 Million Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 93.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,364 shares of the company's stock after selling 396,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.12% of MGP Ingredients worth $1,038,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP bought a new position in MGP Ingredients in the fourth quarter worth approximately $28,388,000. Raymond James Financial Inc. acquired a new stake in MGP Ingredients in the 4th quarter worth approximately $13,125,000. Voloridge Investment Management LLC acquired a new stake in MGP Ingredients during the 4th quarter valued at approximately $12,932,000. Cubist Systematic Strategies LLC acquired a new stake in MGP Ingredients during the 4th quarter valued at approximately $7,164,000. Finally, Marshall Wace LLP increased its holdings in shares of MGP Ingredients by 90.0% during the 4th quarter. Marshall Wace LLP now owns 340,453 shares of the company's stock valued at $13,404,000 after purchasing an additional 161,295 shares in the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

MGP Ingredients Stock Performance

MGPI stock traded up $0.14 during trading on Friday, reaching $29.24. 272,615 shares of the company's stock were exchanged, compared to its average volume of 350,278. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. The firm has a market cap of $621.99 million, a PE ratio of 6.08 and a beta of 0.32. The company's fifty day moving average price is $29.90 and its 200-day moving average price is $33.77. MGP Ingredients, Inc. has a 1-year low of $25.12 and a 1-year high of $92.52.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The company had revenue of $121.65 million for the quarter, compared to analyst estimates of $119.14 million. During the same period in the previous year, the firm earned $1.07 earnings per share. MGP Ingredients's revenue for the quarter was down 28.7% compared to the same quarter last year. On average, research analysts expect that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.12 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.64%. MGP Ingredients's dividend payout ratio is currently 106.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of MGP Ingredients from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company cut their price target on shares of MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Lake Street Capital upgraded shares of MGP Ingredients from a "hold" rating to a "buy" rating and cut their target price for the stock from $55.00 to $45.00 in a research note on Thursday, February 27th. Finally, 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 research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.33.

Insiders Place Their Bets

In related news, Director Martin Roper bought 15,000 shares of MGP Ingredients stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $33.10 per share, for a total transaction of $496,500.00. Following the completion of the acquisition, the director now owns 18,180 shares in the company, valued at approximately $601,758. This represents a 471.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 34.40% of the company's stock.

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.