Leeward Investments LLC MA Lowers Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Leeward Investments LLC MA lessened its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 0.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,087 shares of the company’s stock after selling 646 shares during the period. Leeward Investments LLC MA owned 0.37% of MGP Ingredients worth $8,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC raised its position in shares of MGP Ingredients by 464.8% in the fourth quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock worth $37,000 after buying an additional 330 shares in the last quarter. Legacy Financial Group LLC purchased a new stake in shares of MGP Ingredients in the third quarter worth $61,000. Quantbot Technologies LP raised its position in shares of MGP Ingredients by 99.9% in the third quarter. Quantbot Technologies LP now owns 1,641 shares of the company’s stock worth $173,000 after buying an additional 820 shares in the last quarter. Cerity Partners LLC raised its position in shares of MGP Ingredients by 9.3% in the fourth quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock worth $215,000 after buying an additional 186 shares in the last quarter. Finally, Peterson Wealth Services purchased a new stake in shares of MGP Ingredients in the fourth quarter worth $221,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Insider Activity

In other MGP Ingredients news, VP Erika Lapish acquired 500 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average cost of $77.86 per share, with a total value of $38,930.00. Following the purchase, the vice president now owns 550 shares in the company, valued at $42,823. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MGPI shares. Wedbush restated an “outperform” rating and set a $120.00 price target on shares of MGP Ingredients in a research report on Wednesday, April 10th. Roth Mkm cut their price objective on MGP Ingredients from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Thursday, April 18th.

MGP Ingredients Stock Performance

MGPI stock traded up $1.36 during midday trading on Friday, hitting $80.54. 167,790 shares of the stock traded hands, compared to its average volume of 207,539. The stock’s fifty day simple moving average is $82.67 and its 200-day simple moving average is $89.64. MGP Ingredients, Inc. has a 1-year low of $75.78 and a 1-year high of $124.96. The firm has a market cap of $1.77 billion, a P/E ratio of 16.78, a PEG ratio of 1.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.51 and a quick ratio of 1.47.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.38 by $0.26. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The company had revenue of $214.90 million during the quarter, compared to analysts’ expectations of $206.87 million. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was up 12.6% on a year-over-year basis. On average, analysts expect that MGP Ingredients, Inc. will post 6.18 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. MGP Ingredients’s payout ratio is currently 10.00%.

About MGP Ingredients

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.