1 week Ago By Defense World Staff
Corebridge Financial Inc. reduced its stake in MGP Ingredients, Inc. (NASDAQ:MGPI – Free Report) by 7.
2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,537 shares of the company’s stock after selling 589 shares during the period. Corebridge Financial Inc.
’s holdings in MGP Ingredients were worth $297,000 at the end of the most recent reporting period. Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc.
raised its holdings in shares of MGP Ingredients by 0.7% during the 4th quarter. Vanguard Group Inc.
now owns 1,126,169 shares of the company’s stock valued at $44,337,000 after buying an additional 7,471 shares during the period. Quantbot Technologies LP acquired a new stake in MGP Ingredients in the fourth quarter valued at approximately $1,180,000. Isthmus Partners LLC raised its stake in shares of MGP Ingredients by 1.
8% during the fourth quarter. Isthmus Partners LLC now owns 38,379 shares of the company’s stock valued at $1,511,000 after purchasing an additional 684 shares during the period. AlphaQuest LLC lifted its position in shares of MGP Ingredients by 1,167.
8% during the fourth quarter. AlphaQuest LLC now owns 3,778 shares of the company’s stock worth $149,000 after purchasing an additional 3,480 shares in the last quarter. Finally, Amundi boosted its stake in shares of MGP Ingredients by 200.
8% in the fourth quarter. Amundi now owns 7,222 shares of the company’s stock valued at $264,000 after purchasing an additional 4,821 shares during the period. 77.
11% of the stock is owned by hedge funds and other institutional investors. Insider Activity at MGP IngredientsIn other MGP Ingredients news, Director Karen Seaberg sold 28,304 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $30.
82, for a total transaction of $872,329.28. Following the completion of the sale, the director now owns 283,569 shares in the company, valued at $8,739,596.
58. The trade was a 9.08 % decrease in their ownership of the stock.
The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 36.20% of the company’s stock.
MGP Ingredients Stock Down 2.8 %NASDAQ:MGPI opened at $28.02 on Friday.
The stock has a 50-day simple moving average of $31.07 and a 200 day simple moving average of $43.93.
MGP Ingredients, Inc. has a one year low of $25.12 and a one year high of $92.
52. The company has a market capitalization of $595.99 million, a price-to-earnings ratio of 5.
83 and a beta of 0.61. The company has a debt-to-equity ratio of 0.
31, a quick ratio of 1.94 and a current ratio of 6.46.
MGP Ingredients Dividend AnnouncementThe company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.12 dividend.
The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.
71%. MGP Ingredients’s dividend payout ratio (DPR) is 31.79%.
Analyst Ratings ChangesA number of brokerages have commented on MGPI. StockNews.com lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, February 28th.
Roth Mkm cut their price target on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd.
Wells Fargo & Company reduced their price target on MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd.
Finally, Lake Street Capital upgraded MGP Ingredients from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $55.00 to $45.00 in a report on Thursday, February 27th.
One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.
00.Check Out Our Latest Stock Analysis on MGP IngredientsMGP Ingredients Company Profile (Free Report)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.
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