40,073 Shares in MGP Ingredients, Inc. (NASDAQ:MGPI) Acquired by Bridgewater Associates LP

Bridgewater Associates LP bought a new stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 40,073 shares of the company’s stock, valued at approximately $2,711,000.

Other large investors also recently made changes to their positions in the company. Captrust Financial Advisors boosted its holdings in shares of MGP Ingredients by 946.0% during the first quarter. Captrust Financial Advisors now owns 523 shares of the company’s stock worth $31,000 after purchasing an additional 473 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of MGP Ingredients during the first quarter worth about $37,000. O Shaughnessy Asset Management LLC acquired a new position in MGP Ingredients in the second quarter worth about $45,000. Alpha Paradigm Partners LLC acquired a new position in MGP Ingredients in the first quarter worth about $130,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in MGP Ingredients in the first quarter worth about $209,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

NASDAQ MGPI opened at $66.26 on Thursday. MGP Ingredients, Inc. has a twelve month low of $38.51 and a twelve month high of $76.68. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.45 and a current ratio of 4.24. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 21.31 and a beta of 1.45. The firm’s 50 day moving average price is $65.39 and its two-hundred day moving average price is $64.87.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Wednesday, August 4th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.84. The firm had revenue of $174.94 million during the quarter, compared to analysts’ expectations of $95.80 million. MGP Ingredients had a net margin of 11.74% and a return on equity of 19.64%. On average, research analysts forecast that MGP Ingredients, Inc. will post 3.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 20th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, August 19th. MGP Ingredients’s dividend payout ratio is currently 19.12%.

Separately, Zacks Investment Research downgraded MGP Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Saturday, October 9th.

In related news, Director Karen Seaberg sold 3,000 shares of the stock in a transaction that occurred on Monday, October 11th. The shares were sold at an average price of $68.88, for a total value of $206,640.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lori L.S. Mingus sold 557 shares of the stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $64.55, for a total transaction of $35,954.35. Following the completion of the transaction, the director now owns 3,092 shares in the company, valued at $199,588.60. The disclosure for this sale can be found here. Insiders have sold 13,798 shares of company stock valued at $908,324 in the last ninety days. 36.00% of the stock is owned by company insiders.

About MGP Ingredients

MGP Ingredients, Inc engages in the manufacture and trade of food, beverage, specialty wheat protein and starch food ingredients. It operates through the following segments: Distillery Products and Ingredient Solutions. The Distillery Products segment consists of food grade alcohol and distillery co-products, such as distillers feed and fuel grade alcohol.

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Institutional Ownership by Quarter for MGP Ingredients (NASDAQ:MGPI)

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