MGP Ingredients Inc (NASDAQ:MGPI) VP David E. Rindom sold 22,213 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $51.05, for a total transaction of $1,133,973.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of MGP Ingredients Inc (NASDAQ:MGPI) opened at 54.55 on Tuesday. The company has a market capitalization of $911.42 million, a P/E ratio of 30.04 and a beta of 1.31. MGP Ingredients Inc has a one year low of $22.11 and a one year high of $56.17. The firm has a 50-day moving average of $45.77 and a 200-day moving average of $44.15.
MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Wednesday, March 8th. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.09. The business had revenue of $85 million for the quarter, compared to analyst estimates of $81.01 million. MGP Ingredients had a net margin of 9.02% and a return on equity of 22.96%. The business’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts expect that MGP Ingredients Inc will post $1.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Wednesday, March 1st will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, February 10th. This is a positive change from MGP Ingredients’s previous quarterly dividend of $0.02. MGP Ingredients’s payout ratio is currently 4.68%.
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MGPI has been the subject of a number of research reports. Sidoti initiated coverage on shares of MGP Ingredients in a report on Wednesday, February 1st. They issued a “buy” rating and a $60.00 price target for the company. Zacks Investment Research raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Wednesday, December 7th. Finally, Craig Hallum set a $60.00 price target on shares of MGP Ingredients and gave the company a “buy” rating in a report on Thursday, March 9th.
About MGP Ingredients
MGP Ingredients, Inc is a holding company. The Company’s principal operating subsidiaries are MGPI Processing, Inc and MGPI of Indiana, LLC (MGPI-I). The Company produces and supplies distilled spirits, and wheat proteins and starches. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin.
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