BNP Paribas Financial Markets Has $5.87 Million Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

BNP Paribas Financial Markets lifted its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 81.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,033 shares of the company's stock after purchasing an additional 66,715 shares during the period. BNP Paribas Financial Markets owned 0.68% of MGP Ingredients worth $5,867,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in MGP Ingredients by 201.2% during the third quarter. JPMorgan Chase & Co. now owns 64,723 shares of the company's stock worth $5,388,000 after acquiring an additional 43,233 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of MGP Ingredients by 162.0% during the 4th quarter. GAMMA Investing LLC now owns 697 shares of the company's stock worth $27,000 after purchasing an additional 431 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of MGP Ingredients by 1,292.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 188,693 shares of the company's stock valued at $7,429,000 after purchasing an additional 175,142 shares during the period. Verity Asset Management Inc. bought a new position in MGP Ingredients during the fourth quarter worth about $307,000. Finally, Entropy Technologies LP acquired a new position in MGP Ingredients during the fourth quarter worth approximately $335,000. Institutional investors and hedge funds own 77.11% of the company's stock.

MGP Ingredients Stock Performance

NASDAQ:MGPI traded up $0.38 during mid-day trading on Friday, reaching $32.79. 475,332 shares of the company's stock were exchanged, compared to its average volume of 340,299. MGP Ingredients, Inc. has a one year low of $25.12 and a one year high of $92.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. The business's fifty day simple moving average is $29.65 and its two-hundred day simple moving average is $36.51. The firm has a market capitalization of $697.51 million, a PE ratio of 6.82 and a beta of 0.32.

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 net margin of 14.44% and a return on equity of 14.39%. The firm had revenue of $121.65 million for the quarter, compared to analyst estimates of $119.14 million. During the same quarter in the prior year, the business posted $1.07 EPS. The business's revenue was down 28.7% compared to the same quarter last year. Analysts anticipate that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.48 annualized dividend and a yield of 1.46%. MGP Ingredients's dividend payout ratio is presently 106.67%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Truist Financial dropped their price objective 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. Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and reduced their target price for the stock from $55.00 to $45.00 in a report on Thursday, February 27th. Finally, StockNews.com cut shares of MGP Ingredients from a "hold" rating to a "sell" rating in a report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $50.33.

Insider Activity

In other news, Director Martin Roper bought 15,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $33.10 per share, with a total value of $496,500.00. Following the acquisition, the director now directly owns 18,180 shares in the company, valued at $601,758. This represents a 471.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Seaberg sold 28,304 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $30.82, for a total transaction of $872,329.28. Following the transaction, the director now owns 283,569 shares of the company's stock, valued at approximately $8,739,596.58. This represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,417 shares of company stock worth $905,556. 36.20% of the stock is currently owned by company insiders.

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.