MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Acquired by BNP Paribas Financial Markets

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

A number of other institutional investors also recently bought and sold shares of the business. Ariel Investments LLC raised its position in MGP Ingredients by 17.6% during the 4th quarter. Ariel Investments LLC now owns 598,903 shares of the company's stock worth $23,579,000 after buying an additional 89,461 shares during the last quarter. PDT Partners LLC purchased a new position in shares of MGP Ingredients during the 4th quarter valued at approximately $730,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of MGP Ingredients during the 4th quarter valued at approximately $901,000. Northern Trust Corp increased its holdings in shares of MGP Ingredients by 12.9% during the 4th quarter. Northern Trust Corp now owns 159,121 shares of the company's stock valued at $6,265,000 after purchasing an additional 18,139 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of MGP Ingredients during the 4th quarter valued at approximately $75,000. 77.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MGPI. Truist Financial cut their target price on shares of MGP Ingredients from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, April 24th. StockNews.com lowered shares of MGP Ingredients from a "hold" rating to a "sell" rating in a report on Saturday, May 10th. Wells Fargo & Company cut their target price on shares of MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Finally, Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and cut their target price for the company from $55.00 to $45.00 in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $50.33.

Insider Activity

In other news, Director Martin Roper purchased 15,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $33.10 per share, with a total value of $496,500.00. Following the transaction, the director now owns 18,180 shares in the company, valued at $601,758. The trade was a 471.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Seaberg purchased 5,348 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $32.59 per share, for a total transaction of $174,291.32. Following the transaction, the director now owns 358,899 shares in the company, valued at approximately $11,696,518.41. The trade was a 1.51% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 29,417 shares of company stock valued at $905,556. 36.20% of the stock is currently owned by insiders.

MGP Ingredients Price Performance

NASDAQ MGPI traded up $0.38 on Friday, hitting $32.79. The company had a trading volume of 475,332 shares, compared to its average volume of 342,146. The company has a market capitalization of $697.51 million, a PE ratio of 6.82 and a beta of 0.32. The company's fifty day moving average price is $29.67 and its 200-day moving average price is $36.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. MGP Ingredients, Inc. has a 12-month low of $25.12 and a 12-month 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 the consensus estimate of $0.31 by $0.05. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The company had revenue of $121.65 million for the quarter, compared to analysts' expectations of $119.14 million. During the same quarter in the previous year, the company posted $1.07 EPS. The firm's quarterly revenue was down 28.7% on a year-over-year basis. As a group, analysts predict that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, May 16th. This represents a $0.48 annualized dividend and a yield of 1.46%. MGP Ingredients's dividend payout ratio (DPR) is presently 106.67%.

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.