ZWJ Investment Counsel Inc. Has $6.58 Million Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

ZWJ Investment Counsel Inc. grew its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,778 shares of the company’s stock after acquiring an additional 5,013 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in MGP Ingredients were worth $6,579,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Tudor Investment Corp Et Al acquired a new stake in shares of MGP Ingredients in the 3rd quarter valued at approximately $2,985,000. Victory Capital Management Inc. boosted its holdings in shares of MGP Ingredients by 58.0% in the 3rd 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 during the last quarter. KLR Investment Advisors LLC boosted its holdings in shares of MGP Ingredients by 5.8% in the 3rd 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 during the last quarter. Peterson Wealth Services acquired a new stake in shares of MGP Ingredients in the 4th quarter valued at approximately $221,000. Finally, HighTower Advisors LLC acquired a new stake in shares of MGP Ingredients in the 3rd quarter valued at approximately $493,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

MGPI traded up $0.30 during trading hours on Friday, reaching $79.75. The company’s stock had a trading volume of 275,076 shares, compared to its average volume of 208,487. MGP Ingredients, Inc. has a 52 week low of $75.78 and a 52 week high of $124.96. The company’s 50-day moving average is $83.31 and its 200-day moving average is $90.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 4.51. The firm has a market cap of $1.76 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.14 and a beta of 0.76.

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

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, March 14th. MGP Ingredients’s payout ratio is 10.00%.

Analyst Ratings Changes

MGPI has been the subject of several recent analyst reports. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a report on Thursday. Wedbush restated an “outperform” rating and issued a $120.00 price target on shares of MGP Ingredients in a research note on Wednesday, April 10th.

Insiders Place Their Bets

In other news, VP Erika Lapish acquired 500 shares of the stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $77.86 per share, for a total transaction of $38,930.00. Following the transaction, the vice president now directly owns 550 shares of the company’s stock, valued at $42,823. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 28.70% of the company’s stock.

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.