GSA Capital Partners LLP Buys Shares of 6,714 MGP Ingredients Inc (MGPI)
GSA Capital Partners LLP bought a new position in MGP Ingredients Inc (NASDAQ:MGPI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,714 shares of the company’s stock, valued at approximately $383,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of MGP Ingredients by 2.8% in the 4th 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. Conestoga Capital Advisors LLC boosted its holdings in shares of MGP Ingredients by 5.6% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,180,300 shares of the company’s stock worth $67,336,000 after acquiring an additional 63,026 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of MGP Ingredients by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 818,334 shares of the company’s stock worth $64,632,000 after acquiring an additional 15,313 shares in the last quarter. Vanguard Group Inc raised its position in MGP Ingredients by 1.9% in the 3rd 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. Finally, Pembroke Management LTD raised its position in MGP Ingredients by 22.2% in the 4th quarter. Pembroke Management LTD now owns 332,505 shares of the company’s stock worth $18,969,000 after purchasing an additional 60,364 shares during the last quarter. 98.10% of the stock is currently owned by institutional investors and hedge funds.
MGPI stock opened at $76.88 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 1.22. MGP Ingredients Inc has a fifty-two week low of $53.66 and a fifty-two week high of $100.00. The company has a market capitalization of $1.34 billion, a P/E ratio of 35.43 and a beta of 1.58.
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 $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.52%. The ex-dividend date is Tuesday, March 12th. This is a boost from MGP Ingredients’s previous quarterly dividend of $0.08. MGP Ingredients’s payout ratio is 18.43%.
In related news, VP David E. Dykstra sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $82.18, for a total value of $410,900.00. Following the completion of the transaction, the vice president now owns 29,396 shares in the company, valued at approximately $2,415,763.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.19% of the company’s stock.
MGPI has been the subject of several research analyst reports. BidaskClub cut shares of MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research report on Friday. Zacks Investment Research upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Saturday, March 2nd. Finally, SunTrust Banks dropped their price objective on shares of MGP Ingredients to $90.00 and set a “buy” rating for the company in a research report on Thursday, December 13th.
MGP Ingredients 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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