Public Sector Pension Investment Board Grows Stock Position in MGP Ingredients, Inc. $MGPI

Key Points

• The Public Sector Pension Investment Board increased its shareholding in MGP Ingredients, Inc. by 26.6%, acquiring an additional 9,380 shares, bringing its total to 44,594 shares valued at approximately $1.31 million.
• MGP Ingredients reported earnings of $0.97 per share for the last quarter, surpassing estimates and generating $145.49 million in revenue, despite a 23.7% year-over-year decline.
• The company has recently declared a quarterly dividend of $0.12 per share, with the dividend payout ratio standing at a notable -154.84%.

Public Sector Pension Investment Board raised its position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 26.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 44,594 shares of the company's stock after purchasing an additional 9,380 shares during the period. Public Sector Pension Investment Board owned about 0.21% of MGP Ingredients worth $1,310,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Aigen Investment Management LP grew its holdings in MGP Ingredients by 6.8% in the first quarter. Aigen Investment Management LP now owns 6,900 shares of the company's stock valued at $203,000 after purchasing an additional 440 shares during the last quarter. Entropy Technologies LP grew its holdings in MGP Ingredients by 16.5% in the first quarter. Entropy Technologies LP now owns 9,898 shares of the company's stock valued at $291,000 after purchasing an additional 1,400 shares during the last quarter. Invesco Ltd. boosted its stake in shares of MGP Ingredients by 14.6% during the first quarter. Invesco Ltd. now owns 98,106 shares of the company's stock valued at $2,882,000 after acquiring an additional 12,472 shares during the last quarter. Swiss National Bank boosted its stake in shares of MGP Ingredients by 6.4% during the first quarter. Swiss National Bank now owns 29,800 shares of the company's stock valued at $876,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of MGP Ingredients by 1,564.2% during the first quarter. Deutsche Bank AG now owns 214,060 shares of the company's stock valued at $6,289,000 after acquiring an additional 201,197 shares during the last quarter. Institutional investors and hedge funds own 77.11% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Saturday, May 10th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.33.

MGP Ingredients Price Performance

Shares of MGPI traded up $1.12 during trading hours on Wednesday, reaching $29.77. 168,426 shares of the company traded hands, compared to its average volume of 208,882. The company has a quick ratio of 0.79, a current ratio of 2.91 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $633.80 million, a PE ratio of -96.03 and a beta of 0.33. MGP Ingredients, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $91.06. The stock has a fifty day simple moving average of $30.02 and a 200 day simple moving average of $30.30.

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

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given 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 1.6%. 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.