MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Acquired by Cwm LLC

VaselineAugust 23, 2024

0 3 minutes read

Cwm LLC raised its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI – Free Report) by 477.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 393 shares of the company’s stock after acquiring an additional 325 shares during the period. Cwm LLC’s holdings in MGP Ingredients were worth $29,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC boosted its position in shares of MGP Ingredients by 9.3% in 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 in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of MGP Ingredients in the fourth quarter valued at about $768,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MGP Ingredients by 12.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,719 shares of the company’s stock worth $366,000 after buying an additional 400 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in shares of MGP Ingredients by 2.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 9,366 shares of the company’s stock worth $923,000 after buying an additional 206 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in MGP Ingredients in the 4th quarter valued at about $402,000. 77.11% of the shares are currently owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

A number of research firms recently weighed in on MGPI. Wedbush reissued an “outperform” rating and issued a $120.00 target price on shares of MGP Ingredients in a report on Monday, April 29th. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Roth Mkm reiterated a “buy” rating and set a $92.00 target price on shares of MGP Ingredients in a report on Thursday, July 25th.

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Price performance of MGP ingredients

Shares of MGP Ingredients opened at $88.84 on Friday. MGP Ingredients, Inc. has a 1 year low of $68.86 and a 1 year high of $122.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.97, and a current ratio of 6.44. The firm has a 50-day moving average price of $78.96 and a 200-day moving average price of $80.44. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.27 and a beta of 0.59.

MGP Ingredients (NASDAQ:MGPI – Get Your Free Report ) last posted its earnings results on Thursday, August 1st. The company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.17. MGP Ingredients had a return on equity of 14.98% and a net margin of 12.18%. The firm had revenue of $190.80 million for the quarter, compared to analysts’ expectations of $189.06 million. In the same quarter last year, the company earned $1.49 per share. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. Sell-side analysts predict that MGP Ingredients, Inc. will post 6.18 earnings per share for the current year.

MGP Ingredients announces dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.12 dividend. This represents a dividend of $0.48 on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Friday, August 16. MGP Ingredients’ payout ratio is currently 11.09%.

MGP Ingredients Company Profile

(Free report)

MGP Ingredients, Inc, together with its subsidiaries, engages in the manufacturing 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.