Leeward Investments LLC MA Decreases Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Leeward Investments LLC MA trimmed its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 82,087 shares of the company’s stock after selling 646 shares during the quarter. Leeward Investments LLC MA’s holdings in MGP Ingredients were worth $8,087,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MGPI. SG Americas Securities LLC purchased a new position in shares of MGP Ingredients during the 3rd quarter valued at about $990,000. Exchange Traded Concepts LLC purchased a new position in shares of MGP Ingredients during the 3rd quarter valued at about $524,000. Redwood Investments LLC raised its holdings in shares of MGP Ingredients by 14.2% during the 3rd quarter. Redwood Investments LLC now owns 140,494 shares of the company’s stock valued at $14,819,000 after buying an additional 17,498 shares in the last quarter. Legacy Financial Group LLC purchased a new position in MGP Ingredients in the 3rd quarter worth approximately $61,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MGP Ingredients by 22.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,319 shares of the company’s stock worth $350,000 after purchasing an additional 610 shares during the period. 77.11% of the stock is owned by hedge funds and other institutional investors.

MGP Ingredients Trading Up 1.7 %

Shares of MGPI traded up $1.36 during mid-day trading on Friday, hitting $80.54. 167,790 shares of the company’s stock traded hands, compared to its average volume of 207,539. The company has a quick ratio of 1.47, a current ratio of 4.51 and a debt-to-equity ratio of 0.33. MGP Ingredients, Inc. has a 1 year low of $75.78 and a 1 year high of $124.96. The firm has a market capitalization of $1.77 billion, a P/E ratio of 16.78, a PEG ratio of 1.15 and a beta of 0.76. The business’s 50-day moving average price is $82.67 and its 200-day moving average price is $89.64.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.26. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The firm had revenue of $214.90 million for the quarter, compared to analysts’ expectations of $206.87 million. During the same period in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts forecast that MGP Ingredients, Inc. will post 6.18 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.60%. MGP Ingredients’s dividend payout ratio (DPR) is presently 10.00%.

Insider Activity

In other MGP Ingredients news, VP Erika Lapish bought 500 shares of MGP Ingredients stock in a transaction dated Monday, February 26th. The shares were purchased at an average cost of $77.86 per share, with a total value of $38,930.00. Following the completion of the purchase, the vice president now owns 550 shares of the company’s stock, valued at $42,823. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 28.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MGPI shares. Wedbush reaffirmed an “outperform” rating and issued a $120.00 price target on shares of MGP Ingredients in a research note on Wednesday, April 10th. Roth Mkm decreased their price target on MGP Ingredients from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th.

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.