MGP Ingredients, Inc. (NASDAQ:MGPI) announced a quarterly dividend on Tuesday, October 31st, NASDAQ reports. Stockholders of record on Tuesday, November 14th will be given a dividend of 0.04 per share on Friday, December 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend is Monday, November 13th.
Shares of MGP Ingredients (MGPI) traded down $0.14 during midday trading on Thursday, reaching $73.03. 134,000 shares of the company traded hands, compared to its average volume of 138,309. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 4.45. The stock has a market cap of $1,220.00, a PE ratio of 42.29, a PEG ratio of 2.22 and a beta of 0.96. MGP Ingredients has a one year low of $41.16 and a one year high of $78.02.
MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, November 2nd. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.45. The company had revenue of $86.30 million for the quarter, compared to analyst estimates of $83.57 million. MGP Ingredients had a net margin of 10.56% and a return on equity of 18.70%. MGP Ingredients’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. research analysts anticipate that MGP Ingredients will post 2.2 earnings per share for the current fiscal year.
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MGPI has been the topic of several recent analyst reports. SunTrust Banks, Inc. restated a “buy” rating on shares of MGP Ingredients in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $71.33.
In related news, Director Karen Seaberg sold 934 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $57.30, for a total transaction of $53,518.20. Following the completion of the sale, the director now owns 10,591 shares in the company, valued at approximately $606,864.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daryl Schaller sold 20,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $72.58, for a total transaction of $1,451,600.00. Following the sale, the director now owns 2,851 shares of the company’s stock, valued at approximately $206,925.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,731 shares of company stock worth $2,026,838. Insiders own 23.50% of the company’s stock.
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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