Schechter Investment Advisors LLC Sells 1,359 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Schechter Investment Advisors LLC decreased its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,320 shares of the company’s stock after selling 1,359 shares during the quarter. Schechter Investment Advisors LLC owned about 0.06% of MGP Ingredients worth $1,214,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in MGP Ingredients by 58.0% in the third quarter. Victory Capital Management Inc. now owns 217,403 shares of the company’s stock valued at $22,932,000 after buying an additional 79,791 shares in the last quarter. Tudor Investment Corp Et Al bought a new position in MGP Ingredients in the third quarter valued at approximately $2,985,000. KLR Investment Advisors LLC lifted its stake in MGP Ingredients by 5.8% in the third quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock valued at $282,000 after buying an additional 159 shares in the last quarter. HighTower Advisors LLC bought a new position in MGP Ingredients in the third quarter valued at approximately $493,000. Finally, Redwood Investments LLC lifted its stake in MGP Ingredients by 14.2% in the third quarter. Redwood Investments LLC now owns 140,494 shares of the company’s stock valued at $14,819,000 after buying an additional 17,498 shares in the last quarter. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of MGPI opened at $85.80 on Thursday. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $85.16 and a 200 day simple moving average of $93.09. MGP Ingredients, Inc. has a 12 month low of $75.78 and a 12 month high of $124.96. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.22 and a beta of 0.75.

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

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, March 14th. MGP Ingredients’s payout ratio is presently 10.00%.

Insider Activity

In other news, Director Karen Seaberg sold 2,544 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $99.68, for a total value of $253,585.92. Following the transaction, the director now directly owns 55,377 shares of the company’s stock, valued at $5,519,979.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other MGP Ingredients news, VP Erika Lapish purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the purchase, the vice president now owns 550 shares of the company’s stock, valued at approximately $42,823. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Seaberg sold 2,544 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $99.68, for a total transaction of $253,585.92. Following the completion of the transaction, the director now owns 55,377 shares in the company, valued at $5,519,979.36. The disclosure for this sale can be found here. Insiders own 28.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MGPI. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Wedbush restated an “outperform” rating and set a $120.00 target price on shares of MGP Ingredients in a report on Friday, March 22nd.

About MGP Ingredients

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.