MGP Ingredients Inc (NASDAQ:MGPI) Director Daryl Schaller sold 388 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $79.00, for a total value of $30,652.00. Following the completion of the transaction, the director now directly owns 2,851 shares in the company, valued at approximately $225,229. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Daryl Schaller also recently made the following trade(s):
- On Tuesday, March 13th, Daryl Schaller sold 19,612 shares of MGP Ingredients stock. The shares were sold at an average price of $80.08, for a total value of $1,570,528.96.
MGP Ingredients Inc (MGPI) traded up $0.57 during mid-day trading on Tuesday, hitting $78.98. The stock had a trading volume of 89,054 shares, compared to its average volume of 156,738. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.00 and a current ratio of 3.24. The firm has a market cap of $1,313.30, a P/E ratio of 32.50, a P/E/G ratio of 2.44 and a beta of 1.09. MGP Ingredients Inc has a one year low of $47.64 and a one year high of $90.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date is Thursday, March 8th. This is an increase from MGP Ingredients’s previous quarterly dividend of $0.04. MGP Ingredients’s dividend payout ratio (DPR) is presently 13.17%.
MGPI has been the topic of a number of analyst reports. BidaskClub downgraded MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. Sidoti raised MGP Ingredients from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. Craig Hallum reissued a “buy” rating and issued a $105.00 price target (up previously from $90.00) on shares of MGP Ingredients in a research note on Monday, January 29th. Zacks Investment Research raised MGP Ingredients from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Thursday, January 18th. Finally, Stifel Nicolaus initiated coverage on MGP Ingredients in a research note on Tuesday, December 5th. They issued a “hold” rating and a $73.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $87.33.
A number of institutional investors have recently modified their holdings of MGPI. Earnest Partners LLC acquired a new stake in MGP Ingredients during the 4th quarter worth $115,000. SG Americas Securities LLC acquired a new stake in MGP Ingredients during the 3rd quarter worth $128,000. Advisor Group Inc. raised its stake in MGP Ingredients by 636.1% during the 4th quarter. Advisor Group Inc. now owns 2,488 shares of the company’s stock worth $191,000 after buying an additional 2,150 shares during the period. Millennium Management LLC acquired a new stake in MGP Ingredients during the 4th quarter worth $219,000. Finally, Gamco Investors INC. ET AL acquired a new stake in MGP Ingredients during the 4th quarter worth $228,000. 95.31% of the stock is currently owned by institutional investors and hedge funds.
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About MGP Ingredients
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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