Conestoga Capital Advisors LLC Acquires 27,992 Shares of MGP Ingredients Inc (MGPI)

Conestoga Capital Advisors LLC grew its holdings in MGP Ingredients Inc (NASDAQ:MGPI) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,208,292 shares of the company’s stock after purchasing an additional 27,992 shares during the period. MGP Ingredients comprises approximately 2.6% of Conestoga Capital Advisors LLC’s holdings, making the stock its 10th largest holding. Conestoga Capital Advisors LLC owned approximately 7.10% of MGP Ingredients worth $93,220,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MGPI. BlackRock Inc. boosted its holdings in MGP Ingredients by 2.8% in the fourth quarter. BlackRock Inc. now owns 1,886,417 shares of the company’s stock worth $107,621,000 after acquiring an additional 50,807 shares in the last quarter. Vanguard Group Inc raised its stake in shares of MGP Ingredients by 1.9% in the third quarter. Vanguard Group Inc now owns 818,334 shares of the company’s stock worth $64,632,000 after purchasing an additional 15,313 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of MGP Ingredients by 1.9% in the third quarter. Vanguard Group Inc. now owns 818,334 shares of the company’s stock worth $64,632,000 after purchasing an additional 15,313 shares during the last quarter. Dimensional Fund Advisors LP raised its position in MGP Ingredients by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 733,383 shares of the company’s stock valued at $41,840,000 after acquiring an additional 3,196 shares in the last quarter. Finally, Pembroke Management LTD raised its position in MGP Ingredients by 1.0% during the first quarter. Pembroke Management LTD now owns 335,980 shares of the company’s stock valued at $25,921,000 after acquiring an additional 3,475 shares in the last quarter. Institutional investors and hedge funds own 98.10% of the company’s stock.

Several research analysts recently weighed in on the company. Zacks Investment Research cut MGP Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 1st. BidaskClub lowered MGP Ingredients from a “buy” rating to a “hold” rating in a report on Friday, March 22nd.

In other news, Director Karen Seaberg sold 1,546 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $77.75, for a total transaction of $120,201.50. Following the completion of the transaction, the director now directly owns 12,682 shares of the company’s stock, valued at approximately $986,025.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David E. Dykstra sold 5,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $82.18, for a total value of $410,900.00. Following the transaction, the vice president now directly owns 29,396 shares of the company’s stock, valued at $2,415,763.28. The disclosure for this sale can be found here. 24.26% of the stock is currently owned by insiders.

NASDAQ MGPI traded down $1.28 on Friday, reaching $66.69. 223,724 shares of the company were exchanged, compared to its average volume of 271,168. The firm has a market capitalization of $1.16 billion, a P/E ratio of 30.73 and a beta of 1.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 5.25. MGP Ingredients Inc has a fifty-two week low of $53.66 and a fifty-two week high of $100.00.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. MGP Ingredients had a return on equity of 19.31% and a net margin of 9.97%. The company had revenue of $89.10 million for the quarter, compared to analyst estimates of $91.25 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that MGP Ingredients Inc will post 2.61 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.40 annualized dividend and a dividend yield of 0.60%. MGP Ingredients’s dividend payout ratio is presently 18.43%.

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MGP Ingredients Company Profile

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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Institutional Ownership by Quarter for MGP Ingredients (NASDAQ:MGPI)

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