MGP Ingredients Inc (NASDAQ:MGPI) announced a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Stockholders of record on Friday, March 9th will be given a dividend of 0.08 per share on Friday, March 23rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Thursday, March 8th. This is a positive change from MGP Ingredients’s previous quarterly dividend of $0.04.
MGP Ingredients (MGPI) traded up $0.52 during mid-day trading on Wednesday, hitting $79.50. The stock had a trading volume of 5,468 shares, compared to its average volume of 153,660. MGP Ingredients has a 1-year low of $47.64 and a 1-year high of $90.34. The firm has a market cap of $1,317.16, a P/E ratio of 43.56, a price-to-earnings-growth ratio of 2.44 and a beta of 1.09. The company has a current ratio of 3.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.14.
MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Thursday, March 1st. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.06. MGP Ingredients had a return on equity of 18.76% and a net margin of 11.71%. The firm had revenue of $88.20 million during the quarter, compared to the consensus estimate of $85.44 million. During the same period in the prior year, the firm earned $0.48 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. equities analysts forecast that MGP Ingredients will post 2.14 earnings per share for the current year.
In other MGP Ingredients news, Director Daryl Schaller sold 19,612 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $80.08, for a total value of $1,570,528.96. Following the transaction, the director now owns 2,851 shares of the company’s stock, valued at $228,308.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stephen J. Glaser sold 5,800 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $74.92, for a total transaction of $434,536.00. Following the completion of the sale, the vice president now owns 17,080 shares in the company, valued at approximately $1,279,633.60. The disclosure for this sale can be found here. Insiders sold 33,770 shares of company stock worth $2,687,209 in the last three months. 23.50% of the stock is currently owned by corporate insiders.
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MGP Ingredients Company Profile
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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