Isthmus Partners LLC Purchases 860 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Isthmus Partners LLC grew its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,427 shares of the company’s stock after acquiring an additional 860 shares during the quarter. Isthmus Partners LLC owned 0.19% of MGP Ingredients worth $31,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC boosted its holdings in MGP Ingredients by 477.9% in the 2nd quarter. CWM LLC now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 325 shares during the period. LRI Investments LLC bought a new stake in shares of MGP Ingredients in the first quarter valued at approximately $43,000. Innealta Capital LLC acquired a new stake in MGP Ingredients during the second quarter worth approximately $42,000. Quest Partners LLC bought a new position in MGP Ingredients during the 4th quarter worth $72,000. Finally, Covestor Ltd raised its holdings in MGP Ingredients by 23.3% in the 1st quarter. Covestor Ltd now owns 795 shares of the company’s stock valued at $68,000 after acquiring an additional 150 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

MGP Ingredients Price Performance

Shares of MGPI stock traded up $1.14 during trading hours on Friday, reaching $89.05. The company’s stock had a trading volume of 136,247 shares, compared to its average volume of 188,739. MGP Ingredients, Inc. has a fifty-two week low of $68.86 and a fifty-two week high of $115.38. The firm’s 50 day simple moving average is $82.46 and its 200-day simple moving average is $80.67. The company has a quick ratio of 2.22, a current ratio of 6.44 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.30 and a beta of 0.59.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.17. The business had revenue of $190.80 million for the quarter, compared to analyst estimates of $189.06 million. MGP Ingredients had a return on equity of 14.98% and a net margin of 12.18%. MGP Ingredients’s revenue was down 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.49 earnings per share. Sell-side analysts forecast that MGP Ingredients, Inc. will post 6.25 earnings per share for the current year.

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.48 dividend on an annualized basis and a yield of 0.54%. MGP Ingredients’s payout ratio is presently 11.09%.

Insider Buying and Selling at MGP Ingredients

In other news, Director Karen Seaberg sold 12,092 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $90.65, for a total transaction of $1,096,139.80. Following the sale, the director now directly owns 54,542 shares in the company, valued at $4,944,232.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 36.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MGPI shares. StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Roth Mkm reissued a “buy” rating and issued a $92.00 target price on shares of MGP Ingredients in a report on Thursday, July 25th.

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.