Hotchkis & Wiley Capital Management LLC Makes New Investment in MGP Ingredients, Inc. (NASDAQ:MGPI)

Hotchkis & Wiley Capital Management LLC bought a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 77,220 shares of the company's stock, valued at approximately $6,429,000. Hotchkis & Wiley Capital Management LLC owned 0.35% of MGP Ingredients as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of MGP Ingredients by 14.6% during the 1st 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 last quarter. CWM LLC increased its holdings in MGP Ingredients by 477.9% in 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 last quarter. Diversified Trust Co lifted its holdings in MGP Ingredients by 24.6% during the 2nd quarter. Diversified Trust Co now owns 14,450 shares of the company's stock worth $1,075,000 after buying an additional 2,850 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of MGP Ingredients in the 2nd quarter worth approximately $1,397,000. Finally, Leeward Investments LLC MA increased its holdings in shares of MGP Ingredients by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 84,449 shares of the company's stock valued at $6,283,000 after acquiring an additional 4,485 shares during the last quarter. Institutional investors and hedge funds own 77.11% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Lake Street Capital downgraded shares of MGP Ingredients from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $135.00 to $75.00 in a report on Friday, October 18th. Loop Capital set a $75.00 price objective on shares of MGP Ingredients in a research note on Friday, October 18th. Roth Mkm decreased their target price on MGP Ingredients from $69.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, November 4th. TD Cowen cut MGP Ingredients from a "buy" rating to a "hold" rating and dropped their price target for the stock from $66.00 to $50.00 in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded MGP Ingredients from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $76.67.

Insiders Place Their Bets

In other news, Director Lori L.S. Mingus sold 7,050 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.03, for a total value of $324,511.50. Following the transaction, the director now owns 37,373 shares of the company's stock, valued at $1,720,279.19. The trade was a 15.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 36.20% of the stock is owned by company insiders.

MGP Ingredients Stock Performance

Shares of NASDAQ:MGPI traded down $1.79 on Friday, hitting $44.48. The company's stock had a trading volume of 372,552 shares, compared to its average volume of 256,545. MGP Ingredients, Inc. has a 12 month low of $43.48 and a 12 month high of $102.42. The stock's 50-day moving average is $59.40 and its two-hundred day moving average is $72.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. The company has a market capitalization of $976.34 million, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.74 and a beta of 0.63.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $161.55 million. During the same period in the prior year, the business posted $1.34 EPS. The business's revenue for the quarter was down 23.7% compared to the same quarter last year. On average, equities research analysts forecast that MGP Ingredients, Inc. will post 5.57 EPS for the current year.

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.48 annualized dividend and a yield of 1.08%. MGP Ingredients's dividend payout ratio is currently 9.98%.

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.