MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,280 shares of the company's stock after buying an additional 12,735 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.79% of MGP Ingredients worth $17,072,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MGPI. BlackRock Inc. boosted its holdings in shares of MGP Ingredients by 13.8% in the 2nd quarter. BlackRock Inc. now owns 2,873,795 shares of the company's stock worth $305,427,000 after purchasing an additional 349,237 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of MGP Ingredients in the 1st quarter worth approximately $7,549,000. Vanguard Group Inc. boosted its holdings in shares of MGP Ingredients by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,092,288 shares of the company's stock worth $115,956,000 after purchasing an additional 86,892 shares during the period. Two Sigma Investments LP boosted its holdings in shares of MGP Ingredients by 999.3% in the 1st quarter. Two Sigma Investments LP now owns 89,743 shares of the company's stock worth $8,680,000 after purchasing an additional 81,579 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of MGP Ingredients by 58.0% in the 3rd quarter. Victory Capital Management Inc. now owns 217,403 shares of the company's stock worth $22,932,000 after purchasing an additional 79,791 shares during the period. Hedge funds and other institutional investors own 77.11% of the company's stock.

MGP Ingredients Trading Up 0.4 %

Shares of MGPI stock traded up $0.30 on Friday, reaching $79.75. 275,076 shares of the company's stock were exchanged, compared to its average volume of 143,149. MGP Ingredients, Inc. has a 52 week low of $75.78 and a 52 week high of $124.96. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.76 billion, a PE ratio of 16.61, a P/E/G ratio of 1.17 and a beta of 0.76. The company's fifty day simple moving average is $83.31 and its 200 day simple moving average is $90.10.

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

MGP Ingredients Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Thursday, March 14th. MGP Ingredients's dividend payout ratio is currently 10.00%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wedbush reiterated an "outperform" rating and issued a $120.00 target price on shares of MGP Ingredients in a report on Wednesday, April 10th. StockNews.com upgraded MGP Ingredients from a "sell" rating to a "hold" rating in a report on Thursday.

Insider Buying and Selling

In other news, VP Erika Lapish bought 500 shares of the firm's stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $77.86 per share, with a total value of $38,930.00. Following the transaction, the vice president now directly owns 550 shares in the company, valued at approximately $42,823. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 28.70% of the stock is owned by corporate insiders.

MGP Ingredients 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.