Mutual of America Capital Management LLC Decreases Stock Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Mutual of America Capital Management LLC lessened its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,983 shares of the company’s stock after selling 1,557 shares during the period. Mutual of America Capital Management LLC owned 0.28% of MGP Ingredients worth $5,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of MGP Ingredients by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,135,093 shares of the company’s stock worth $97,766,000 after purchasing an additional 8,770 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in 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 last quarter. Ariel Investments LLC boosted its holdings in MGP Ingredients by 92.7% in the second quarter. Ariel Investments LLC now owns 515,796 shares of the company’s stock worth $38,375,000 after acquiring an additional 248,076 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of MGP Ingredients by 18.6% during the third quarter. Congress Asset Management Co. now owns 490,546 shares of the company’s stock worth $40,838,000 after acquiring an additional 76,835 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of MGP Ingredients during the second quarter valued at about $22,028,000. 77.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 1,109 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $90.14, for a total value of $99,965.26. Following the completion of the sale, the director now owns 134,969 shares in the company, valued at approximately $12,166,105.66. This represents a 0.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 36.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on MGPI shares. Roth Mkm lowered their target price on shares of MGP Ingredients from $69.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Lake Street Capital lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating and dropped their price objective for the company from $135.00 to $75.00 in a report on Friday, October 18th. Loop Capital set a $75.00 target price on MGP Ingredients in a research report on Friday, October 18th. Truist Financial lowered their price target on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, MGP Ingredients has an average rating of “Moderate Buy” and a consensus price target of $76.67.

MGP Ingredients Stock Performance

Shares of MGPI stock opened at $46.62 on Thursday. The stock has a market cap of $1.02 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.81 and a beta of 0.66. MGP Ingredients, Inc. has a 52-week low of $45.44 and a 52-week high of $102.42. The business has a 50-day simple moving average of $67.70 and a 200-day simple moving average of $75.62. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The business had revenue of $161.50 million during the quarter, compared to the consensus estimate of $161.55 million. During the same quarter in the prior year, the firm posted $1.34 earnings per share. The company’s revenue was down 23.7% compared to the same quarter last year. On average, equities analysts expect that MGP Ingredients, Inc. will post 5.57 EPS for the current year.

MGP Ingredients Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, November 15th. MGP Ingredients’s dividend payout ratio is currently 9.98%.

MGP Ingredients Company Profile

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.