Fmr LLC Grows Stock Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

FMR LLC boosted its position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 14.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,102,985 shares of the company's stock after acquiring an additional 137,292 shares during the quarter. FMR LLC owned 5.02% of MGP Ingredients worth $91,824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in MGP Ingredients by 14.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,533 shares of the company's stock valued at $391,000 after buying an additional 578 shares during the period. CWM LLC boosted its position in MGP Ingredients by 477.9% during the second quarter. CWM LLC now owns 393 shares of the company's stock valued at $29,000 after buying an additional 325 shares during the period. Diversified Trust Co boosted its position in MGP Ingredients by 24.6% during the second quarter. Diversified Trust Co now owns 14,450 shares of the company's stock valued at $1,075,000 after buying an additional 2,850 shares during the period. Assenagon Asset Management S.A. purchased a new stake in MGP Ingredients during the second quarter valued at about $1,397,000. Finally, Leeward Investments LLC MA boosted its position in MGP Ingredients by 5.6% during the second quarter. Leeward Investments LLC MA now owns 84,449 shares of the company's stock valued at $6,283,000 after buying an additional 4,485 shares during the period. Institutional investors own 77.11% of the company's stock.

Insider Transactions at MGP Ingredients

In other news, Director Lori L.S. Mingus sold 7,050 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.03, for a total value of $324,511.50. Following the sale, the director now directly owns 37,373 shares in the company, valued at $1,720,279.19. The trade was a 15.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 36.20% of the company's stock.

MGP Ingredients Trading Down 3.9 %

MGPI stock traded down $1.79 during trading on Friday, reaching $44.48. The company had a trading volume of 372,552 shares, compared to its average volume of 256,545. MGP Ingredients, Inc. has a 52 week low of $43.48 and a 52 week high of $102.42. The company has a market cap of $976.34 million, a P/E ratio of 9.62, a PEG ratio of 0.74 and a beta of 0.63. The business has a 50 day moving average of $59.40 and a 200 day moving average of $72.94. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.02. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The company had revenue of $161.50 million during the quarter, compared to the consensus estimate of $161.55 million. During the same quarter last year, the firm earned $1.34 earnings per share. The firm's quarterly revenue was down 23.7% compared to the same quarter last year. As a group, sell-side analysts forecast that MGP Ingredients, Inc. will post 5.57 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.12 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.08%. MGP Ingredients's dividend payout ratio is currently 9.98%.

Analysts Set New Price Targets

MGPI has been the subject of a number of analyst reports. Lake Street Capital lowered shares of MGP Ingredients from a "buy" rating to a "hold" rating and dropped their target price for the stock from $135.00 to $75.00 in a report on Friday, October 18th. Roth Mkm dropped their target price on shares of MGP Ingredients from $69.00 to $65.00 and set a "buy" rating for the company in a report on Monday, November 4th. StockNews.com upgraded shares of MGP Ingredients from a "sell" rating to a "hold" rating in a report on Friday, November 1st. TD Cowen lowered shares of MGP Ingredients from a "buy" rating to a "hold" rating and dropped their target price for the stock from $66.00 to $50.00 in a report on Wednesday, November 6th. Finally, Loop Capital set a $75.00 target price on shares of MGP Ingredients in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $76.67.

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.