MGP Ingredients, Inc. (NASDAQ:MGPI) Plans Quarterly Dividend of $0.12

Key Points

• MGP Ingredients, Inc. announced a quarterly dividend of $0.12 per share, with a yield of 1.61%, which will be paid on August 29th to shareholders of record as of August 15th.
• The company reported earnings of $0.97 per share, surpassing analysts' expectations of $0.64, despite a 23.7% decline in revenue compared to the previous year.
• Recent insider activity included Director Martin Roper acquiring 15,000 shares at nearly $33 per share, significantly increasing their stake in the company by 471.7%.

MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) announced a quarterly dividend on Saturday, August 2nd, RTT News reports. Stockholders of record on Friday, August 15th will be given a dividend of 0.12 per share on Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th.

MGP Ingredients has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MGP Ingredients to earn $3.41 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 14.1%.

MGP Ingredients Stock Down 1.2%

Shares of MGPI stock traded down $0.35 on Friday, hitting $27.93. The stock had a trading volume of 299,363 shares, compared to its average volume of 204,456. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.91 and a quick ratio of 0.76. The business has a 50 day moving average of $30.33 and a 200 day moving average of $31.10. MGP Ingredients has a 12-month low of $25.12 and a 12-month high of $92.52. The stock has a market cap of $594.07 million, a price-to-earnings ratio of -90.10 and a beta of 0.33.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.64 by $0.33. MGP Ingredients had a negative net margin of 1.08% and a positive return on equity of 10.66%. The firm had revenue of $145.49 million for the quarter, compared to analysts' expectations of $138.70 million. During the same quarter last year, the firm earned $1.71 EPS. The company's quarterly revenue was down 23.7% compared to the same quarter last year. As a group, analysts expect that MGP Ingredients will post 5.56 EPS for the current year.

Insiders Place Their Bets

In other news, Director Martin Roper bought 15,000 shares of the stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $33.10 per share, for a total transaction of $496,500.00. Following the completion of the purchase, the director directly owned 18,180 shares in the company, valued at $601,758. This represents a 471.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 34.40% of the company's stock.

Institutional Investors Weigh In On MGP Ingredients

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGPI. Vanguard Group Inc. increased its stake in shares of MGP Ingredients by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,145,485 shares of the company's stock worth $33,654,000 after purchasing an additional 19,316 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 during the period. Wasatch Advisors LP purchased a new position in MGP Ingredients in the 4th quarter valued at approximately $28,388,000. Ariel Investments LLC raised its holdings in MGP Ingredients by 4.5% during the 1st quarter. Ariel Investments LLC now owns 626,058 shares of the company's stock valued at $18,394,000 after acquiring an additional 27,155 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of MGP Ingredients by 16.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 579,067 shares of the company's stock worth $22,798,000 after acquiring an additional 83,445 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors.

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.