Isthmus Partners LLC Purchases 684 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Isthmus Partners LLC boosted its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,379 shares of the company’s stock after buying an additional 684 shares during the period. Isthmus Partners LLC owned approximately 0.17% of MGP Ingredients worth $1,511,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of MGP Ingredients by 201.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,723 shares of the company’s stock worth $5,388,000 after acquiring an additional 43,233 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in MGP Ingredients during the third quarter valued at $1,010,000. Entropy Technologies LP bought a new position in MGP Ingredients during the fourth quarter valued at $335,000. Principal Financial Group Inc. lifted its position in MGP Ingredients by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 68,634 shares of the company’s stock valued at $2,702,000 after purchasing an additional 1,973 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in shares of MGP Ingredients by 28.2% in the 3rd quarter. MML Investors Services LLC now owns 4,920 shares of the company’s stock worth $410,000 after buying an additional 1,083 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MGPI. Wells Fargo & Company lowered their price target on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. StockNews.com lowered MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Roth Mkm cut their target price on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, Lake Street Capital upgraded MGP Ingredients from a “hold” rating to a “buy” rating and decreased their price target for the company from $55.00 to $45.00 in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

MGP Ingredients Trading Down 0.6 %

Shares of NASDAQ MGPI opened at $34.01 on Monday. MGP Ingredients, Inc. has a fifty-two week low of $31.31 and a fifty-two week high of $92.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. The company has a market cap of $723.39 million, a price-to-earnings ratio of 7.07 and a beta of 0.57. The business’s 50 day moving average price is $34.87 and its 200-day moving average price is $53.79.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. MGP Ingredients’s payout ratio is 31.79%.

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.