Quantbot Technologies LP Buys 43,060 Shares of MGP Ingredients, Inc. $MGPI

Key Points

• Quantbot Technologies LP significantly increased its stake in MGP Ingredients, acquiring 43,060 additional shares to bring its total to 73,027, now valued at approximately $2.15 million.
• Analysts have mixed views on MGP Ingredients; while some firms raised their position, a recent report from Wall Street Zen downgraded the stock from "hold" to "sell," yet several analysts maintain a "buy" recommendation.
• The company declared a quarterly dividend of $0.12 per share, set to be paid on August 29, reflecting a dividend yield of 1.7%, although its payout ratio is notably negative at -154.84%.

Quantbot Technologies LP boosted its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 143.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,027 shares of the company's stock after acquiring an additional 43,060 shares during the period. Quantbot Technologies LP owned about 0.34% of MGP Ingredients worth $2,146,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MGPI. Voloridge Investment Management LLC acquired a new stake in shares of MGP Ingredients in the fourth quarter valued at approximately $12,932,000. Federated Hermes Inc. increased its stake in shares of MGP Ingredients by 576.4% during the first quarter. Federated Hermes Inc. now owns 262,329 shares of the company's stock valued at $7,707,000 after acquiring an additional 223,548 shares during the period. Deutsche Bank AG grew 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 worth $6,289,000 after buying an additional 201,197 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in MGP Ingredients in the fourth quarter worth approximately $7,164,000. Finally, Millennium Management LLC grew its position in MGP Ingredients by 383.8% in the fourth quarter. Millennium Management LLC now owns 166,153 shares of the company's stock worth $6,541,000 after buying an additional 131,811 shares during the last quarter. Institutional investors own 77.11% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of 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 given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $50.33.

MGP Ingredients Stock Up 2.3%

NASDAQ:MGPI traded up $0.65 during trading hours on Wednesday, reaching $29.30. The company's stock had a trading volume of 30,718 shares, compared to its average volume of 336,900. The company has a market cap of $623.69 million, a price-to-earnings ratio of -94.50 and a beta of 0.33. MGP Ingredients, Inc. has a one year low of $25.12 and a one year high of $91.06. The business's 50-day moving average is $30.03 and its 200-day moving average is $30.30. 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 (NASDAQ:MGPI - Get Free Report) last announced 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. The business had revenue of $145.49 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.71 earnings per share. 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 year.

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.12 dividend. 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 (DPR) is -154.84%.

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.