Russell Investments Group Ltd. Trims Position in MGP Ingredients, Inc. (MGPI)
Russell Investments Group Ltd. decreased its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 56.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,709 shares of the company’s stock after selling 38,483 shares during the period. Russell Investments Group Ltd. owned 0.18% of MGP Ingredients worth $1,801,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NTV Asset Management LLC lifted its position in shares of MGP Ingredients by 2.2% in the second quarter. NTV Asset Management LLC now owns 14,100 shares of the company’s stock worth $411,000 after buying an additional 300 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of MGP Ingredients by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,165 shares of the company’s stock worth $111,000 after buying an additional 325 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of MGP Ingredients by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 10,302 shares of the company’s stock worth $527,000 after buying an additional 478 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of MGP Ingredients by 2.2% in the first quarter. Teachers Advisors LLC now owns 22,829 shares of the company’s stock worth $1,238,000 after buying an additional 496 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of MGP Ingredients by 4.8% in the second quarter. Advisors Asset Management Inc. now owns 12,839 shares of the company’s stock worth $657,000 after buying an additional 583 shares during the last quarter.
In related news, Director Karen Seaberg sold 5,305 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $64.03, for a total transaction of $339,679.15. Following the transaction, the director now directly owns 10,591 shares in the company, valued at $678,141.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daryl Schaller sold 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $72.58, for a total value of $1,451,600.00. Following the transaction, the director now owns 2,851 shares in the company, valued at $206,925.58. The disclosure for this sale can be found here. Insiders have sold 53,597 shares of company stock worth $3,885,856 over the last 90 days. Corporate insiders own 23.50% of the company’s stock.
MGP Ingredients, Inc. (MGPI) opened at $73.97 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.45 and a quick ratio of 1.54. The company has a market capitalization of $1,288.31, a PE ratio of 34.09, a PEG ratio of 2.34 and a beta of 0.95. MGP Ingredients, Inc. has a 12 month low of $41.16 and a 12 month high of $78.72.
MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.45. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The business had revenue of $86.30 million for the quarter, compared to analyst estimates of $83.57 million. During the same period in the previous year, the company posted $0.55 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. research analysts predict that MGP Ingredients, Inc. will post 2.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Tuesday, November 14th were paid a dividend of $0.04 per share. The ex-dividend date was Monday, November 13th. This represents a $0.16 annualized dividend and a yield of 0.22%. MGP Ingredients’s dividend payout ratio is 7.37%.
A number of equities analysts have recently commented on the company. Stifel Nicolaus assumed coverage on MGP Ingredients in a research note on Tuesday, December 5th. They issued a “hold” rating and a $73.00 price objective on the stock. Zacks Investment Research upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. SunTrust Banks reiterated a “buy” rating on shares of MGP Ingredients in a research note on Friday, November 3rd. Finally, BidaskClub lowered MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $71.75.
ILLEGAL ACTIVITY NOTICE: This report was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://theolympiareport.com/2017/12/25/russell-investments-group-ltd-trims-position-in-mgp-ingredients-inc-mgpi.html.
MGP Ingredients Company Profile
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
Want to see what other hedge funds are holding MGPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGP Ingredients, Inc. (NASDAQ:MGPI).
Receive News & Ratings for MGP Ingredients Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGP Ingredients and related companies with MarketBeat.com's FREE daily email newsletter.