Redwood Investments LLC Decreases Stock Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Redwood Investments LLC reduced its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 83.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,340 shares of the company's stock after selling 117,154 shares during the quarter. Redwood Investments LLC owned about 0.11% of MGP Ingredients worth $2,299,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MGPI. Tudor Investment Corp Et Al bought a new position in shares of MGP Ingredients during the 3rd quarter valued at about $2,985,000. Victory Capital Management Inc. lifted its stake in MGP Ingredients by 58.0% in the 3rd quarter. Victory Capital Management Inc. now owns 217,403 shares of the company's stock valued at $22,932,000 after acquiring an additional 79,791 shares in the last quarter. KLR Investment Advisors LLC lifted its stake in MGP Ingredients by 5.8% in the 3rd quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company's stock valued at $282,000 after acquiring an additional 159 shares in the last quarter. HighTower Advisors LLC bought a new stake in MGP Ingredients in the 3rd quarter valued at approximately $493,000. Finally, Diversified Trust Co lifted its stake in MGP Ingredients by 19.3% in the 4th quarter. Diversified Trust Co now owns 7,250 shares of the company's stock valued at $714,000 after acquiring an additional 1,175 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

MGP Ingredients Stock Down 0.9 %

Shares of NASDAQ:MGPI traded down $0.78 during trading on Monday, hitting $85.35. 197,224 shares of the company were exchanged, compared to its average volume of 221,402. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 1.27 and a beta of 0.75. MGP Ingredients, Inc. has a fifty-two week low of $75.78 and a fifty-two week high of $124.96. The firm has a fifty day moving average price of $84.95 and a two-hundred day moving average price of $92.46. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.26. The firm had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The business's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 EPS. As a group, research analysts anticipate that MGP Ingredients, Inc. will post 6.18 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, March 14th. MGP Ingredients's payout ratio is presently 10.00%.

Insider Buying and Selling

In related news, Director Karen Seaberg sold 2,544 shares of the business's stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $99.68, for a total transaction of $253,585.92. Following the transaction, the director now directly owns 55,377 shares of the company's stock, valued at approximately $5,519,979.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Karen Seaberg sold 2,544 shares of the business's stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $99.68, for a total transaction of $253,585.92. Following the transaction, the director now directly owns 55,377 shares of the company's stock, valued at approximately $5,519,979.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Erika Lapish acquired 500 shares of the firm's stock in a transaction on Monday, February 26th. The stock was purchased at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the acquisition, the vice president now owns 550 shares in the company, valued at $42,823. The disclosure for this purchase can be found here. 28.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MGPI shares. StockNews.com cut MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Friday. Wedbush reaffirmed an "outperform" rating and set a $120.00 price target on shares of MGP Ingredients in a research report on Friday, March 22nd.

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.