19,482 Shares in MGP Ingredients, Inc. (NASDAQ:MGPI) Bought by QSV Equity Investors LLC

QSV Equity Investors LLC purchased a new position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,482 shares of the company's stock, valued at approximately $1,622,000. MGP Ingredients comprises about 1.5% of QSV Equity Investors LLC's portfolio, making the stock its 27th biggest position. QSV Equity Investors LLC owned approximately 0.09% of MGP Ingredients as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of MGP Ingredients by 14.2% in the third quarter. FMR LLC now owns 1,102,985 shares of the company's stock valued at $91,824,000 after purchasing an additional 137,292 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MGP Ingredients by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 790,339 shares of the company's stock valued at $58,801,000 after purchasing an additional 68,278 shares during the period. Ariel Investments LLC grew its stake in shares of MGP Ingredients by 92.7% in the 2nd quarter. Ariel Investments LLC now owns 515,796 shares of the company's stock valued at $38,375,000 after buying an additional 248,076 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of MGP Ingredients by 67.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 495,622 shares of the company's stock worth $41,261,000 after buying an additional 199,550 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in MGP Ingredients by 18.6% in the third quarter. Congress Asset Management Co. now owns 490,546 shares of the company's stock worth $40,838,000 after purchasing an additional 76,835 shares in the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lori L.S. Mingus sold 7,050 shares of the business's stock in a transaction 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 completion of the sale, the director now owns 37,373 shares of the company's stock, valued at approximately $1,720,279.19. The trade was a 15.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 36.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MGPI. Roth Mkm reduced their price objective on MGP Ingredients from $69.00 to $65.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Loop Capital set a $75.00 target price on shares of MGP Ingredients in a research report on Friday, October 18th. Truist Financial reduced their price objective on MGP Ingredients from $85.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Lake Street Capital downgraded shares of MGP Ingredients from a "buy" rating to a "hold" rating and lowered their price target for the stock from $135.00 to $75.00 in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of MGP Ingredients from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $76.67.

MGP Ingredients Stock Performance

NASDAQ MGPI traded up $0.64 on Thursday, reaching $46.45. 229,161 shares of the stock were exchanged, compared to its average volume of 255,480. The firm has a market capitalization of $1.02 billion, a PE ratio of 9.52, a PEG ratio of 0.74 and a beta of 0.63. MGP Ingredients, Inc. has a one year low of $43.48 and a one year high of $102.42. The company's 50-day simple moving average is $60.11 and its two-hundred day simple moving average is $73.13. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.02. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The firm had revenue of $161.50 million during the quarter, compared to analyst estimates of $161.55 million. During the same quarter in the previous year, the business earned $1.34 earnings per share. MGP Ingredients's quarterly revenue was down 23.7% on a year-over-year basis. Analysts expect that MGP Ingredients, Inc. will post 5.57 EPS 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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, November 15th. MGP Ingredients's dividend payout ratio is currently 9.98%.

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.