Champlain Investment Partners LLC Purchases 2,600 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Champlain Investment Partners LLC lifted its position in MGP Ingredients, Inc. (NASDAQ:MGPI – Get Rating) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,471,165 shares of the company’s stock after acquiring an additional 2,600 shares during the quarter. Champlain Investment Partners LLC owned approximately 0.07% of MGP Ingredients worth $125,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. ARGI Investment Services LLC grew its position in MGP Ingredients by 29.5% during the third quarter. ARGI Investment Services LLC now owns 21,795 shares of the company’s stock valued at $1,419,000 after buying an additional 4,969 shares during the period. Moody National Bank Trust Division bought a new position in MGP Ingredients during the fourth quarter valued at about $1,617,000. American Century Companies Inc. grew its position in MGP Ingredients by 1.2% during the third quarter. American Century Companies Inc. now owns 314,401 shares of the company’s stock valued at $20,467,000 after buying an additional 3,656 shares during the period. Fifth Third Bancorp grew its position in MGP Ingredients by 64.5% during the fourth quarter. Fifth Third Bancorp now owns 403 shares of the company’s stock valued at $34,000 after buying an additional 158 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new position in MGP Ingredients during the fourth quarter valued at about $270,000. Hedge funds and other institutional investors own 77.38% of the company’s stock.

Several equities analysts recently weighed in on MGPI shares. Cowen started coverage on shares of MGP Ingredients in a research report on Friday, January 21st. They set an “outperform” rating and a $99.00 price target for the company. StockNews.com began coverage on shares of MGP Ingredients in a research report on Thursday, March 31st. They set a “hold” rating for the company. Lake Street Capital began coverage on shares of MGP Ingredients in a research report on Tuesday, February 22nd. They set a “buy” rating and a $100.00 target price for the company. Finally, Zacks Investment Research upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, MGP Ingredients currently has a consensus rating of “Buy” and an average price target of $101.50.

In related news, insider Michele Lux bought 5,000 shares of the stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average cost of $77.36 per share, with a total value of $386,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David E. Dykstra sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $88.73, for a total transaction of $221,825.00. Following the completion of the sale, the vice president now directly owns 15,265 shares in the company, valued at $1,354,463.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,956 shares of company stock worth $1,403,315. Insiders own 36.00% of the company’s stock.

NASDAQ:MGPI traded up $2.09 on Thursday, reaching $96.03. 87,495 shares of the company’s stock were exchanged, compared to its average volume of 111,605. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.68 and a quick ratio of 1.36. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 18.63 and a beta of 1.14. MGP Ingredients, Inc. has a 52 week low of $58.40 and a 52 week high of $102.88. The stock has a fifty day simple moving average of $88.41 and a 200-day simple moving average of $82.67.

MGP Ingredients (NASDAQ:MGPI – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.73. MGP Ingredients had a net margin of 15.82% and a return on equity of 17.20%. The firm had revenue of $195.24 million for the quarter, compared to the consensus estimate of $173.60 million. During the same period in the prior year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was up 80.2% on a year-over-year basis. As a group, sell-side analysts predict that MGP Ingredients, Inc. will post 4.35 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Thursday, May 19th. MGP Ingredients’s payout ratio is 9.45%.

MGP Ingredients Profile (Get Rating)

MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients. It operates through three segments: Distillery Products; Branded Spirits; and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food-grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.

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