MGP Ingredients (NASDAQ:MGPI) Insider Leslie Lux Sells 27,731 Shares of Stock

Key Points

• Insider Leslie Lux sold 27,731 MGP Ingredients shares at an average price of $14.40, for total proceeds of approximately $399,326.
• MGP Ingredients shares recently traded at $14.13, near their 12-month low of $14.02, while quarterly EPS of $0.72 exceeded analyst estimates of $0.49. Revenue declined 14.5% year over year to $124.36 million.
• The company pays a quarterly dividend of $0.12 per share, equivalent to a 3.4% annualized yield. Analysts maintain an overall “Hold” rating, with an average price target of $27.25.

MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) insider Leslie Lux sold 27,731 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $14.40, for a total value of $399,326.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

MGP Ingredients Stock Performance

Shares of MGPI stock traded down $0.26 on Friday, hitting $14.13. The company had a trading volume of 388,288 shares, compared to its average volume of 208,572. MGP Ingredients, Inc. has a twelve month low of $14.02 and a twelve month high of $27.94. The company has a quick ratio of 1.65, a current ratio of 6.99 and a debt-to-equity ratio of 0.61. The firm has a market cap of $302.52 million, a P/E ratio of -1.25 and a beta of 0.45. The company has a 50-day moving average price of $17.07 and a 200-day moving average price of $17.68.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.49 by $0.23. MGP Ingredients had a positive return on equity of 7.41% and a negative net margin of 48.08%.The firm had revenue of $124.36 million for the quarter, compared to analyst estimates of $125.16 million. During the same period last year, the company earned $0.97 earnings per share. MGP Ingredients's revenue for the quarter was down 14.5% compared to the same quarter last year. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, equities research analysts predict that MGP Ingredients, Inc. will post 1.65 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 14th. MGP Ingredients's payout ratio is -4.26%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new stake in MGP Ingredients in the 2nd quarter valued at $111,000. Corient Private Wealth LP acquired a new position in MGP Ingredients during the second quarter worth $270,000. Bank of America Corp DE purchased a new position in MGP Ingredients during the second quarter valued at $1,857,000. Hsbc Holdings PLC purchased a new position in MGP Ingredients during the second quarter valued at $806,000. Finally, PDT Partners LLC acquired a new stake in shares of MGP Ingredients in the second quarter valued at about $1,582,000. Hedge funds and other institutional investors own 77.11% of the company's stock.

Analysts Set New Price Targets

MGPI has been the topic of several analyst reports. TD Cowen raised their price target on shares of MGP Ingredients from $18.00 to $20.00 and gave the company a "hold" rating in a research report on Thursday, July 30th. Wells Fargo & Company upped their price objective on shares of MGP Ingredients from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of MGP Ingredients in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $27.25.

MGP Ingredients Company Profile

MGP Ingredients, Inc is a food, beverage and spirits company headquartered in Atchison, Kansas. Founded in 1941 as Midwest Grain Products, the company has developed from a grain-processing and distilling business into a diversified producer of specialty ingredients, distilled spirits and branded alcoholic beverages.

MGP's Ingredient Solutions segment produces specialty wheat proteins and starches used in food applications, including meat alternatives, baked goods, snacks and other processed foods.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.