MGP Ingredients, Inc. $MGPI Stake Increased by Villanova Investment Management Co

Villanova Investment Management Co lifted its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 51.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 94,356 shares of the company’s stock after acquiring an additional 32,030 shares during the period. Villanova Investment Management Co owned approximately 0.44% of MGP Ingredients worth $1,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in MGP Ingredients in the second quarter valued at $22,258,000. Dimensional Fund Advisors LP lifted its stake in MGP Ingredients by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 760,128 shares of the company’s stock worth $13,979,000 after purchasing an additional 78,849 shares during the last quarter. Tieton Capital Management LLC purchased a new position in shares of MGP Ingredients in the 2nd quarter worth about $11,252,000. Allspring Global Investments Holdings LLC purchased a new position in shares of MGP Ingredients in the 1st quarter worth about $3,064,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of MGP Ingredients in the 1st quarter worth about $2,725,000. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

MGP Ingredients Price Performance

Shares of NASDAQ:MGPI opened at $16.79 on Friday. The stock has a market cap of $359.50 million, a PE ratio of -1.44 and a beta of 0.49. The company’s fifty day moving average is $14.92 and its 200 day moving average is $18.17. MGP Ingredients, Inc. has a 52 week low of $12.42 and a 52 week high of $26.62. The company has a quick ratio of 1.65, a current ratio of 6.91 and a debt-to-equity ratio of 0.56.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. MGP Ingredients had a negative net margin of 51.12% and a positive return on equity of 6.58%. The business had revenue of $117.91 million during the quarter, compared to the consensus estimate of $119.70 million. During the same period in the previous year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. Research analysts anticipate that MGP Ingredients, Inc. will post 1.70 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 13th. MGP Ingredients’s dividend payout ratio (DPR) is presently -4.12%.

Insider Activity at MGP Ingredients

In related news, insider Leslie Lux sold 27,731 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $14.40, for a total transaction of $399,326.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Lux sold 33,000 shares of MGP Ingredients stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $17.76, for a total value of $586,080.00. Following the completion of the transaction, the insider directly owned 550,458 shares in the company, valued at $9,776,134.08. This trade represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 31.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company increased their price objective on MGP Ingredients from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Weiss Ratings downgraded MGP Ingredients from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, October 29th. Roth Capital dropped their target price on MGP Ingredients from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 16th. Finally, TD Cowen upped their target price on MGP Ingredients from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.25.

MGP Ingredients Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a producer and marketer of distilled spirits and specialty food and beverage ingredients. The company operates distilleries and processing facilities that manufacture bourbon, rye whiskey, vodka, gin, tequila and other distilled products, as well as grain-based alcohol and related ingredients.

The company serves customers through both its Distilling Solutions and Branded Spirits businesses. Its branded portfolio includes products such as Ezra Brooks, Yellowstone, Daviess County, El Mayor and Everclear, while its distilling operations supply spirits and alcohol to beverage companies and other commercial customers.