Moody National Bank Trust Division Purchases 1,106 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Moody National Bank Trust Division boosted its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,049 shares of the company’s stock after acquiring an additional 1,106 shares during the period. Moody National Bank Trust Division owned 0.06% of MGP Ingredients worth $1,045,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Covestor Ltd boosted its stake in MGP Ingredients by 23.3% during the first quarter. Covestor Ltd now owns 795 shares of the company’s stock worth $68,000 after acquiring an additional 150 shares in the last quarter. Texas Permanent School Fund Corp raised its position in MGP Ingredients by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 13,680 shares of the company’s stock worth $1,178,000 after acquiring an additional 177 shares during the period. Cerity Partners LLC raised its position in 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 acquiring an additional 186 shares during the period. Illinois Municipal Retirement Fund raised its position in MGP Ingredients by 2.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 9,366 shares of the company’s stock worth $923,000 after acquiring an additional 206 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of MGP Ingredients by 7.4% in the first quarter. ProShare Advisors LLC now owns 3,193 shares of the company’s stock worth $275,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 77.11% of the company’s stock.

Insider Buying and Selling at MGP Ingredients

In other MGP Ingredients news, Director Donn S. Lux sold 22,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $82.50, for a total transaction of $1,815,000.00. Following the completion of the transaction, the director now owns 2,673,264 shares in the company, valued at $220,544,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lori L.S. Mingus sold 2,430 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $78.88, for a total value of $191,678.40. Following the completion of the sale, the director now owns 47,287 shares in the company, valued at approximately $3,729,998.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donn S. Lux sold 22,000 shares of MGP Ingredients stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $82.50, for a total transaction of $1,815,000.00. Following the sale, the director now owns 2,673,264 shares of the company’s stock, valued at approximately $220,544,280. The disclosure for this sale can be found here. Insiders sold 34,430 shares of company stock worth $2,836,678 over the last 90 days. 36.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MGPI has been the subject of a number of analyst reports. Roth Mkm reissued a “buy” rating and issued a $92.00 price objective on shares of MGP Ingredients in a research note on Thursday, July 25th. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Wedbush reaffirmed an “outperform” rating and set a $120.00 target price on shares of MGP Ingredients in a research note on Monday, April 29th.

MGP Ingredients Price Performance

MGPI traded down $2.57 during trading on Monday, hitting $82.53. 178,568 shares of the company traded hands, compared to its average volume of 196,981. The company has a market cap of $1.82 billion, a PE ratio of 19.06, a P/E/G ratio of 1.27 and a beta of 0.59. The stock’s 50-day simple moving average is $76.09 and its two-hundred day simple moving average is $80.48. MGP Ingredients, Inc. has a 1 year low of $68.86 and a 1 year high of $124.96. The company has a current ratio of 6.44, a quick ratio of 1.97 and a debt-to-equity ratio of 0.34.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results 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. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The company had revenue of $190.80 million during the quarter, compared to analysts’ expectations of $189.06 million. During the same period last year, the company posted $1.49 earnings per share. MGP Ingredients’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that MGP Ingredients, Inc. will post 6.18 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 16th. This represents a $0.48 annualized dividend and a yield of 0.58%. MGP Ingredients’s dividend payout ratio (DPR) is currently 11.09%.

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.