Mutual of America Capital Management LLC Has $5.56 Million Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Mutual of America Capital Management LLC increased its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 239.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,557 shares of the company’s stock after purchasing an additional 45,527 shares during the period. Mutual of America Capital Management LLC’s holdings in MGP Ingredients were worth $5,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its stake in MGP Ingredients by 464.8% in the 4th quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock worth $37,000 after purchasing an additional 330 shares during the period. Quest Partners LLC acquired a new position in shares of MGP Ingredients during the 4th quarter worth about $72,000. Bare Financial Services Inc acquired a new position in shares of MGP Ingredients during the 4th quarter worth about $106,000. Principal Securities Inc. acquired a new position in shares of MGP Ingredients during the 4th quarter worth about $190,000. Finally, Cerity Partners LLC boosted its stake in shares of MGP Ingredients by 9.3% during the 4th quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock worth $215,000 after buying an additional 186 shares during the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MGPI. StockNews.com cut shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Roth Mkm dropped their target price on shares of MGP Ingredients from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price on shares of MGP Ingredients in a report on Monday, April 29th.

Insider Transactions at MGP Ingredients

In related news, Director Donn S. Lux sold 10,000 shares of MGP Ingredients stock in a transaction on Friday, May 10th. The shares were sold at an average price of $83.00, for a total transaction of $830,000.00. Following the completion of the transaction, the director now owns 2,695,264 shares of the company’s stock, valued at $223,706,912. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Donn S. Lux sold 10,000 shares of MGP Ingredients stock in a transaction on Friday, May 10th. The shares were sold at an average price of $83.00, for a total transaction of $830,000.00. Following the completion of the transaction, the director now owns 2,695,264 shares of the company’s stock, valued at $223,706,912. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lori L.S. Mingus sold 2,430 shares of MGP Ingredients stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $78.88, for a total transaction of $191,678.40. Following the transaction, the director now directly owns 47,287 shares of the company’s stock, valued at approximately $3,729,998.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,430 shares of company stock worth $2,836,678. Company insiders own 36.20% of the company’s stock.

MGP Ingredients Price Performance

Shares of NASDAQ MGPI traded down $0.51 during trading hours on Tuesday, hitting $70.01. 157,377 shares of the stock were exchanged, compared to its average volume of 199,364. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.97 and a current ratio of 6.32. The company has a market cap of $1.54 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.08 and a beta of 0.59. The company’s fifty day simple moving average is $76.30 and its two-hundred day simple moving average is $82.77. MGP Ingredients, Inc. has a 1-year low of $68.86 and a 1-year high of $124.96.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, May 2nd. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. MGP Ingredients had a net margin of 11.91% and a return on equity of 14.78%. The firm had revenue of $170.56 million for the quarter, compared to analyst estimates of $170.31 million. During the same quarter last year, the business posted $1.39 earnings per share. The company’s quarterly revenue was down 15.1% on a year-over-year basis. On average, sell-side analysts predict that MGP Ingredients, Inc. will post 6.19 EPS for the current year.

MGP Ingredients Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.69%. MGP Ingredients’s dividend payout ratio (DPR) is presently 11.09%.

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.