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

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) declared a quarterly dividend on Sunday, August 3rd, RTT News reports. Investors of record on Friday, August 15th will be paid a dividend of 0.12 per share on Friday, August 29th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th.

MGP Ingredients has a dividend payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of MGP Ingredients stock traded up $0.61 during trading on Monday, hitting $28.54. 199,877 shares of the stock traded hands, compared to its average volume of 355,447. The stock has a market cap of $607.62 million, a price-to-earnings ratio of -92.06 and a beta of 0.33. The company has a quick ratio of 0.79, a current ratio of 2.91 and a debt-to-equity ratio of 0.35. MGP Ingredients has a 52 week low of $25.12 and a 52 week high of $92.52. The firm's fifty day moving average is $30.33 and its 200-day moving average is $31.07.

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

Insider Transactions at MGP Ingredients

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 cost of $33.10 per share, with a total value of $496,500.00. Following the acquisition, the director directly owned 18,180 shares of the company's stock, valued at $601,758. This represents a 471.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 34.40% of the company's stock.

Institutional Investors Weigh In On MGP Ingredients

A number of large investors have recently made changes to their positions in the company. Brooklyn Investment Group boosted its stake in shares of MGP Ingredients by 2,365.7% in the first quarter. Brooklyn Investment Group now owns 863 shares of the company's stock worth $25,000 after acquiring an additional 828 shares during the period. Penserra Capital Management LLC lifted its position in MGP Ingredients by 333.3% during the first quarter. Penserra Capital Management LLC now owns 897 shares of the company's stock valued at $26,000 after purchasing an additional 690 shares during the last quarter. GAMMA Investing LLC lifted its position in MGP Ingredients by 114.8% during the first quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock valued at $44,000 after purchasing an additional 800 shares during the last quarter. CWM LLC lifted its position in MGP Ingredients by 127.4% during the first quarter. CWM LLC now owns 2,051 shares of the company's stock valued at $60,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Signaturefd LLC lifted its position in MGP Ingredients by 1,055.2% during the first quarter. Signaturefd LLC now owns 2,218 shares of the company's stock valued at $65,000 after purchasing an additional 2,026 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors.

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.