Isthmus Partners LLC Purchases 684 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Isthmus Partners LLC raised its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,379 shares of the company’s stock after purchasing an additional 684 shares during the period. Isthmus Partners LLC’s holdings in MGP Ingredients were worth $1,511,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of MGP Ingredients by 45.3% during the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock valued at $50,000 after buying an additional 186 shares during the period. First Horizon Advisors Inc. increased its position in MGP Ingredients by 73.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock valued at $63,000 after purchasing an additional 322 shares during the period. GAMMA Investing LLC increased its position in MGP Ingredients by 162.0% during the 4th quarter. GAMMA Investing LLC now owns 697 shares of the company’s stock valued at $27,000 after purchasing an additional 431 shares during the period. Versant Capital Management Inc raised its holdings in shares of MGP Ingredients by 192.5% in the 4th quarter. Versant Capital Management Inc now owns 699 shares of the company’s stock valued at $28,000 after purchasing an additional 460 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of MGP Ingredients by 56.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company’s stock worth $75,000 after purchasing an additional 687 shares during the period. 77.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MGPI has been the topic of several research reports. StockNews.com lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Roth Mkm cut their price target on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Wells Fargo & Company decreased their price objective on MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Lake Street Capital raised shares of MGP Ingredients from a “hold” rating to a “buy” rating and decreased their price target for the company from $55.00 to $45.00 in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, MGP Ingredients currently has an average rating of “Moderate Buy” and an average price target of $67.00.

MGP Ingredients Trading Down 0.6 %

Shares of NASDAQ:MGPI opened at $34.01 on Monday. The business’s 50-day moving average is $34.87 and its 200 day moving average is $53.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. MGP Ingredients, Inc. has a 1 year low of $31.31 and a 1 year high of $92.52. The firm has a market capitalization of $723.39 million, a P/E ratio of 7.07 and a beta of 0.57.

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. MGP Ingredients’s dividend payout ratio (DPR) is currently 31.79%.

MGP Ingredients 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.