Howe & Rusling Inc. Purchases 456 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Howe & Rusling Inc. raised its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 14.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,519 shares of the company’s stock after buying an additional 456 shares during the quarter. Howe & Rusling Inc.’s holdings in MGP Ingredients were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. SG Americas Securities LLC acquired a new position in MGP Ingredients in the 3rd quarter valued at about $990,000. Redwood Investments LLC lifted its stake in MGP Ingredients by 14.2% in the 3rd quarter. Redwood Investments LLC now owns 140,494 shares of the company’s stock valued at $14,819,000 after purchasing an additional 17,498 shares during the last quarter. Legacy Financial Group LLC bought a new position in shares of MGP Ingredients during the third quarter valued at $61,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MGP Ingredients by 22.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,319 shares of the company’s stock valued at $350,000 after acquiring an additional 610 shares during the last quarter. Finally, Advisor Partners II LLC acquired a new stake in shares of MGP Ingredients during the third quarter worth $369,000. 77.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MGPI shares. Roth Mkm decreased their price objective on shares of MGP Ingredients from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Wedbush restated an “outperform” rating and issued a $120.00 price target on shares of MGP Ingredients in a report on Monday. Finally, StockNews.com cut shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, April 26th.

MGP Ingredients Stock Performance

Shares of MGPI stock opened at $78.25 on Thursday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 1.15 and a beta of 0.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 4.51. MGP Ingredients, Inc. has a 52 week low of $75.78 and a 52 week high of $124.96. The firm’s 50-day simple moving average is $81.74 and its two-hundred day simple moving average is $88.97.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.38 by $0.26. The business had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. As a group, equities analysts forecast that MGP Ingredients, Inc. will post 6.18 earnings per share for the current year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, March 14th. MGP Ingredients’s dividend payout ratio (DPR) is currently 10.00%.

Insider Activity

In other news, VP Erika Lapish acquired 500 shares of MGP Ingredients stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average price of $77.86 per share, with a total value of $38,930.00. Following the completion of the purchase, the vice president now owns 550 shares in the company, valued at $42,823. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 36.20% of the company’s stock.

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.