Segall Bryant & Hamill LLC reduced its holdings in MGP Ingredients Inc (NASDAQ:MGPI) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,198 shares of the company’s stock after selling 661 shares during the quarter. Segall Bryant & Hamill LLC owned 0.09% of MGP Ingredients worth $867,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can raised its holdings in shares of MGP Ingredients by 437.4% in the 4th quarter. Bank of Montreal Can now owns 489 shares of the company’s stock worth $28,000 after purchasing an additional 398 shares in the last quarter. Group One Trading L.P. acquired a new stake in shares of MGP Ingredients during the fourth quarter valued at approximately $40,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of MGP Ingredients during the fourth quarter valued at approximately $142,000. Municipal Employees Retirement System of Michigan acquired a new position in MGP Ingredients in the 4th quarter valued at approximately $208,000. Finally, Man Group plc acquired a new position in MGP Ingredients in the 3rd quarter valued at approximately $297,000. Institutional investors and hedge funds own 98.10% of the company’s stock.
In other news, Director Karen Seaberg sold 1,546 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $77.75, for a total value of $120,201.50. Following the completion of the transaction, the director now owns 12,682 shares in the company, valued at approximately $986,025.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP David E. Dykstra sold 5,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $82.18, for a total transaction of $410,900.00. Following the completion of the transaction, the vice president now owns 29,396 shares of the company’s stock, valued at approximately $2,415,763.28. The disclosure for this sale can be found here. 22.19% of the stock is currently owned by corporate insiders.
MGPI stock traded up $4.43 during trading hours on Friday, hitting $87.30. The company’s stock had a trading volume of 456,610 shares, compared to its average volume of 157,259. The company has a quick ratio of 1.22, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 40.23 and a beta of 1.56. MGP Ingredients Inc has a 12 month low of $53.66 and a 12 month high of $100.00.
MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Wednesday, February 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.13. The business had revenue of $104.85 million during the quarter, compared to the consensus estimate of $99.77 million. MGP Ingredients had a net margin of 9.81% and a return on equity of 19.68%. MGP Ingredients’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. On average, research analysts expect that MGP Ingredients Inc will post 2.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Wednesday, March 13th were issued a dividend of $0.10 per share. This is an increase from MGP Ingredients’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Tuesday, March 12th. MGP Ingredients’s dividend payout ratio is currently 18.43%.
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About MGP Ingredients
MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.
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