MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,094,484 shares of the company's stock after selling 39,717 shares during the period. Vanguard Group Inc. owned approximately 4.99% of MGP Ingredients worth $115,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MGPI. Deutsche Bank AG lifted its position in shares of MGP Ingredients by 12.7% during the 3rd quarter. Deutsche Bank AG now owns 8,649 shares of the company's stock worth $912,000 after purchasing an additional 972 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of MGP Ingredients during the 3rd quarter worth about $246,000. Tudor Investment Corp Et Al acquired a new position in shares of MGP Ingredients during the 3rd quarter worth about $2,985,000. Morgan Stanley lifted its position in shares of MGP Ingredients by 14.5% during the 3rd quarter. Morgan Stanley now owns 257,650 shares of the company's stock worth $27,177,000 after purchasing an additional 32,598 shares during the last quarter. Finally, Penserra Capital Management LLC increased its stake in MGP Ingredients by 7.7% during the third quarter. Penserra Capital Management LLC now owns 2,046 shares of the company's stock valued at $215,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 77.11% of the company's stock.

MGP Ingredients Price Performance

Shares of MGPI stock traded down $0.08 during trading hours on Thursday, hitting $82.75. The company had a trading volume of 129,240 shares, compared to its average volume of 217,530. MGP Ingredients, Inc. has a 12 month low of $75.78 and a 12 month high of $124.96. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.22 and a beta of 0.76. The firm's fifty day moving average is $84.68 and its 200 day moving average is $92.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 4.51.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.26. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The company had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. During the same period in the prior year, the company posted $1.01 EPS. The company's revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts predict that MGP Ingredients, Inc. will post 6.18 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.58%. MGP Ingredients's dividend payout ratio (DPR) is presently 10.00%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wedbush restated an "outperform" rating and set a $120.00 price target on shares of MGP Ingredients in a research note on Friday, March 22nd. StockNews.com lowered MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Friday, March 29th.

Insider Buying and Selling

In other MGP Ingredients news, VP Erika Lapish purchased 500 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the transaction, the vice president now directly owns 550 shares in the company, valued at $42,823. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 28.70% of the stock is owned by corporate insiders.

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.