MGP Ingredients (NASDAQ:MGPI) issued its quarterly earnings data on Thursday. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.06, MarketWatch Earnings reports. The business had revenue of $92.60 million for the quarter, compared to the consensus estimate of $93.42 million. MGP Ingredients had a net margin of 10.47% and a return on equity of 17.44%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 EPS.

MGP Ingredients stock traded down $0.23 during mid-day trading on Friday, reaching $36.27. The stock had a trading volume of 89,824 shares, compared to its average volume of 86,972. The company has a market capitalization of $612.82 million, a price-to-earnings ratio of 15.70 and a beta of 1.67. The company has a 50-day moving average price of $36.19 and a two-hundred day moving average price of $34.66. MGP Ingredients has a one year low of $21.64 and a one year high of $61.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.54 and a quick ratio of 2.41.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, August 20th. MGP Ingredients’s payout ratio is 21.15%.

In related news, Director Karen Seaberg sold 10,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $38.17, for a total value of $381,700.00. Following the transaction, the director now owns 3,977 shares in the company, valued at approximately $151,802.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 36,995 shares of company stock worth $1,349,770. 24.06% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on MGPI. Zacks Investment Research raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Saturday, July 11th. SunTrust Banks raised shares of MGP Ingredients from a “hold” rating to a “buy” rating and upped their target price for the stock from $40.00 to $45.00 in a research report on Monday, April 6th. National Securities began coverage on shares of MGP Ingredients in a research report on Tuesday, April 14th. They issued a “buy” rating and a $50.00 target price on the stock. BidaskClub raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Friday, July 24th. Finally, Berenberg Bank began coverage on shares of MGP Ingredients in a research report on Thursday, July 16th. They issued a “buy” rating and a $45.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $42.80.

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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Earnings History for MGP Ingredients (NASDAQ:MGPI)

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