American Century Companies Inc. Trims Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

American Century Companies Inc. trimmed its stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 94.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,760 shares of the company's stock after selling 240,802 shares during the period. American Century Companies Inc. owned 0.06% of MGP Ingredients worth $542,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Quantinno Capital Management LP purchased a new position in shares of MGP Ingredients in the 3rd quarter valued at approximately $235,000. Stifel Financial Corp increased its stake in shares of MGP Ingredients by 39.9% in the 3rd quarter. Stifel Financial Corp now owns 11,940 shares of the company's stock worth $994,000 after acquiring an additional 3,406 shares in the last quarter. State Street Corp lifted its position in MGP Ingredients by 22.4% during the 3rd quarter. State Street Corp now owns 717,675 shares of the company's stock valued at $59,746,000 after acquiring an additional 131,542 shares during the period. MML Investors Services LLC boosted its stake in MGP Ingredients by 28.2% during the third quarter. MML Investors Services LLC now owns 4,920 shares of the company's stock worth $410,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of MGP Ingredients during the third quarter valued at approximately $373,000. 77.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Roth Mkm reduced their price target on MGP Ingredients from $65.00 to $60.00 and set a "buy" rating for the company in a report on Monday, December 23rd. StockNews.com lowered MGP Ingredients from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and cut their target price for the stock from $55.00 to $45.00 in a research report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price objective on MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $66.00.

MGP Ingredients Price Performance

Shares of NASDAQ MGPI traded up $0.38 during midday trading on Thursday, reaching $27.12. The stock had a trading volume of 48,357 shares, compared to its average volume of 401,775. 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 stock has a 50-day moving average of $30.58 and a 200-day moving average of $42.69. The company has a market capitalization of $576.84 million, a price-to-earnings ratio of 5.64 and a beta of 0.61. MGP Ingredients, Inc. has a 12-month low of $25.12 and a 12-month high of $92.52.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.12 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.77%. MGP Ingredients's dividend payout ratio is presently 31.79%.

Insiders Place Their Bets

In other MGP Ingredients news, Director Karen Seaberg sold 28,304 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $30.82, for a total transaction of $872,329.28. Following the completion of the transaction, the director now owns 283,569 shares of the company's stock, valued at $8,739,596.58. This represents a 9.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 36.20% of the stock is currently owned by corporate insiders.

About MGP Ingredients

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.