MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $33.80 and last traded at $33.78, with a volume of 117430 shares trading hands. The stock had previously closed at $34.54.
Analyst Upgrades and Downgrades
MGPI has been the topic of several analyst reports. Truist Financial lowered their price target on shares of MGP Ingredients from $85.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Roth Mkm dropped their target price on MGP Ingredients from $65.00 to $60.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Wells Fargo & Company decreased their price target on MGP Ingredients from $58.00 to $44.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Lake Street Capital lowered MGP Ingredients from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $135.00 to $75.00 in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of MGP Ingredients from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $71.29.
Read Our Latest Research Report on MGPI
MGP Ingredients Stock Performance
The stock has a 50 day moving average price of $39.14 and a two-hundred day moving average price of $61.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The company has a market capitalization of $722.59 million, a price-to-earnings ratio of 6.84 and a beta of 0.62.
MGP Ingredients Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given 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 1.46%. MGP Ingredients's payout ratio is 9.98%.
Insider Activity
In related news, Director Lori L.S. Mingus sold 7,050 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.03, for a total transaction of $324,511.50. Following the completion of the sale, the director now directly owns 37,373 shares of the company's stock, valued at $1,720,279.19. The trade was a 15.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 36.20% of the company's stock.
Institutional Trading of MGP Ingredients
A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of MGP Ingredients by 162.0% in the 4th quarter. GAMMA Investing LLC now owns 697 shares of the company's stock valued at $27,000 after buying an additional 431 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of MGP Ingredients by 192.5% during the 4th quarter. Versant Capital Management Inc now owns 699 shares of the company's stock valued at $28,000 after purchasing an additional 460 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of MGP Ingredients by 45.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company's stock valued at $50,000 after purchasing an additional 186 shares during the period. First Horizon Advisors Inc. increased its stake in MGP Ingredients by 73.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 760 shares of the company's stock worth $63,000 after purchasing an additional 322 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in MGP Ingredients by 56.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company's stock valued at $75,000 after buying an additional 687 shares in the last quarter. Institutional investors and hedge funds own 77.11% of the company's stock.
MGP Ingredients Company Profile
(
Get Free Report)
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.
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