MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Acquired by Graham Capital Management L.P.

Graham Capital Management L.P. grew its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 435.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,428 shares of the company's stock after acquiring an additional 12,545 shares during the period. Graham Capital Management L.P. owned about 0.07% of MGP Ingredients worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in MGPI. Vanguard Group Inc. increased its position in MGP Ingredients by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,126,169 shares of the company's stock worth $44,337,000 after purchasing an additional 7,471 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of MGP Ingredients by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 914,854 shares of the company's stock worth $36,017,000 after buying an additional 57,714 shares in the last quarter. Wasatch Advisors LP bought a new stake in shares of MGP Ingredients in the 4th quarter worth about $28,388,000. Ariel Investments LLC raised its position in shares of MGP Ingredients by 17.6% during the 4th quarter. Ariel Investments LLC now owns 598,903 shares of the company's stock valued at $23,579,000 after buying an additional 89,461 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of MGP Ingredients by 16.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 579,067 shares of the company's stock valued at $22,798,000 after buying an additional 83,445 shares in the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MGP Ingredients

In other news, Director Martin Roper acquired 15,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was acquired at an average price of $33.10 per share, for a total transaction of $496,500.00. Following the completion of the transaction, the director now owns 18,180 shares in the company, valued at approximately $601,758. The trade was a 471.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Seaberg sold 28,304 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $30.82, for a total value of $872,329.28. Following the completion of the transaction, the director now directly owns 283,569 shares of the company's stock, valued at $8,739,596.58. The trade was a 9.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,417 shares of company stock worth $905,556 in the last three months. Company insiders own 36.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MGPI shares. StockNews.com downgraded MGP Ingredients from a "hold" rating to a "sell" rating in a research report on Saturday, May 10th. Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and reduced their target price for the company from $55.00 to $45.00 in a research note on Thursday, February 27th. Wells Fargo & Company lowered 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, Truist Financial cut their price target on shares of MGP Ingredients from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.33.

MGP Ingredients Stock Down 0.5%

Shares of MGPI stock traded down $0.15 during trading hours on Tuesday, reaching $32.52. 88,157 shares of the company's stock were exchanged, compared to its average volume of 341,916. MGP Ingredients, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $92.52. The stock's 50 day moving average is $29.72 and its 200-day moving average is $36.03. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31. The company has a market cap of $691.77 million, a price-to-earnings ratio of 6.76 and a beta of 0.32.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The company had revenue of $121.65 million during the quarter, compared to analysts' expectations of $119.14 million. During the same period last year, the business posted $1.07 earnings per share. The firm's revenue was down 28.7% compared to the same quarter last year. Analysts predict that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, May 16th. MGP Ingredients's dividend payout ratio (DPR) is 106.67%.

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.