Cubist Systematic Strategies LLC Sells 12,463 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Cubist Systematic Strategies LLC reduced its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 57.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,192 shares of the company’s stock after selling 12,463 shares during the period. Cubist Systematic Strategies LLC’s holdings in MGP Ingredients were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in MGPI. Massachusetts Financial Services Co. MA bought a new stake in shares of MGP Ingredients in the second quarter valued at approximately $22,028,000. Champlain Investment Partners LLC boosted its stake in shares of MGP Ingredients by 25.4% in the first quarter. Champlain Investment Partners LLC now owns 1,366,906 shares of the company’s stock valued at $117,732,000 after buying an additional 276,675 shares during the period. Ariel Investments LLC bought a new stake in shares of MGP Ingredients in the first quarter valued at approximately $23,059,000. Congress Asset Management Co. MA boosted its stake in shares of MGP Ingredients by 21.7% in the first quarter. Congress Asset Management Co. MA now owns 387,003 shares of the company’s stock valued at $33,333,000 after buying an additional 68,950 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of MGP Ingredients by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 790,339 shares of the company’s stock valued at $58,801,000 after buying an additional 68,278 shares during the period. 77.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Roth Mkm restated a “buy” rating and set a $92.00 price objective on shares of MGP Ingredients in a research report on Thursday, July 25th.

MGP Ingredients Stock Down 0.4 %

Shares of MGPI opened at $79.42 on Friday. MGP Ingredients, Inc. has a one year low of $68.86 and a one year high of $103.04. The company has a market cap of $1.75 billion, a P/E ratio of 18.34, a P/E/G ratio of 1.16 and a beta of 0.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.44 and a quick ratio of 2.22. The firm has a 50 day simple moving average of $84.79 and a two-hundred day simple moving average of $80.43.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.17. The company had revenue of $190.80 million during the quarter, compared to the consensus estimate of $189.06 million. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. Research analysts forecast that MGP Ingredients, Inc. will post 6.25 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.48 annualized dividend and a dividend yield of 0.60%. MGP Ingredients’s dividend payout ratio (DPR) is presently 11.09%.

Insider Transactions at MGP Ingredients

In other news, Director Karen Seaberg sold 12,092 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $90.65, for a total transaction of $1,096,139.80. Following the completion of the transaction, the director now directly owns 54,542 shares in the company, valued at approximately $4,944,232.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 36.20% of the company’s stock.

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.