Los Angeles Capital Management LLC decreased its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,735 shares of the company’s stock after selling 840 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MGP Ingredients were worth $438,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of MGP Ingredients in the 3rd quarter worth $28,000. Marshall Wace North America L.P. bought a new stake in shares of MGP Ingredients in the 1st quarter worth $37,000. O Shaughnessy Asset Management LLC bought a new stake in shares of MGP Ingredients in the 2nd quarter worth $45,000. Trust Co of Kansas bought a new stake in shares of MGP Ingredients in the 2nd quarter worth $210,000. Finally, AQR Capital Management LLC purchased a new position in shares of MGP Ingredients in the 2nd quarter worth about $240,000. Hedge funds and other institutional investors own 75.98% of the company’s stock.
In other news, Director Karen Seaberg sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $68.47, for a total transaction of $273,880.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lori L.S. Mingus sold 1,605 shares of the company’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $74.50, for a total value of $119,572.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,990 shares of company stock worth $925,222. Insiders own 36.00% of the company’s stock.
NASDAQ MGPI opened at $84.26 on Friday. The company has a market cap of $1.85 billion, a PE ratio of 23.54 and a beta of 1.24. MGP Ingredients, Inc. has a 52 week low of $51.27 and a 52 week high of $89.50. The company has a quick ratio of 1.30, a current ratio of 4.07 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $81.55 and its two-hundred day simple moving average is $70.83.
MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Wednesday, November 3rd. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.69. The business had revenue of $176.61 million for the quarter, compared to the consensus estimate of $148.10 million. MGP Ingredients had a net margin of 12.61% and a return on equity of 18.70%. During the same period in the prior year, the firm earned $0.61 earnings per share. As a group, equities research analysts anticipate that MGP Ingredients, Inc. will post 4.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Friday, November 19th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, November 18th. MGP Ingredients’s dividend payout ratio (DPR) is presently 13.41%.
MGP Ingredients Profile
MGP Ingredients, Inc engages in the manufacture and trade of food, beverage, specialty wheat protein and starch food ingredients. It operates through the following segments: Distillery Products and Ingredient Solutions. The Distillery Products segment consists of food grade alcohol and distillery co-products, such as distillers feed and fuel grade alcohol.
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