Oregon Public Employees Retirement Fund Buys New Position in MGP Ingredients Inc (MGPI)
Oregon Public Employees Retirement Fund bought a new stake in MGP Ingredients Inc (NASDAQ:MGPI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,808 shares of the company’s stock, valued at approximately $274,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of MGP Ingredients by 82.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 27,591 shares of the company’s stock valued at $2,179,000 after purchasing an additional 12,494 shares during the period. Putnam Investments LLC purchased a new position in shares of MGP Ingredients in the 3rd quarter valued at approximately $5,542,000. TIAA CREF Investment Management LLC lifted its stake in shares of MGP Ingredients by 71.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 50,137 shares of the company’s stock valued at $3,960,000 after purchasing an additional 20,933 shares during the period. Rhumbline Advisers lifted its stake in shares of MGP Ingredients by 21.1% in the 4th quarter. Rhumbline Advisers now owns 36,879 shares of the company’s stock valued at $2,104,000 after purchasing an additional 6,416 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of MGP Ingredients in the 4th quarter valued at approximately $142,000. Institutional investors own 98.10% of the company’s stock.
MGPI has been the subject of a number of research analyst reports. BidaskClub upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Zacks Investment Research raised MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Finally, SunTrust Banks reduced their price objective on MGP Ingredients to $90.00 and set a “buy” rating for the company in a research report on Thursday, December 13th.
MGPI stock opened at $78.01 on Friday. MGP Ingredients Inc has a twelve month low of $53.66 and a twelve month high of $100.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 1.22. The company has a market cap of $1.34 billion, a P/E ratio of 35.95 and a beta of 1.58.
MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Wednesday, February 27th. The company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.13. MGP Ingredients had a return on equity of 19.68% and a net margin of 9.81%. The company had revenue of $104.85 million during the quarter, compared to analyst estimates of $99.77 million. During the same quarter last year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts forecast that MGP Ingredients Inc will post 2.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Wednesday, March 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Tuesday, March 12th. This is a positive change from MGP Ingredients’s previous quarterly dividend of $0.08. MGP Ingredients’s dividend payout ratio (DPR) is 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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