MGP Ingredients (NASDAQ:MGPI) Hits New 12-Month Low – Should You Sell?

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $31.76 and last traded at $33.04, with a volume of 85971 shares trading hands. The stock had previously closed at $32.19.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MGPI. Roth Mkm reduced their price objective on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Truist Financial decreased their price objective on shares of MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company lowered their target price on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, TD Cowen downgraded MGP Ingredients from a “buy” rating to a “hold” rating and dropped their price target for the stock from $66.00 to $50.00 in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.29.

MGP Ingredients Trading Down 0.7 %

The stock’s 50 day moving average is $36.05 and its 200-day moving average is $56.81. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. The company has a market cap of $715.45 million, a PE ratio of 6.78 and a beta of 0.62.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.08. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. As a group, sell-side analysts anticipate that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.47%. MGP Ingredients’s dividend payout ratio (DPR) is presently 9.98%.

Institutional Trading of MGP Ingredients

Several institutional investors have recently added to or reduced their stakes in MGPI. PharVision Advisers LLC purchased a new position in MGP Ingredients during the 4th quarter valued at $316,000. Voloridge Investment Management LLC bought a new position in MGP Ingredients in the fourth quarter worth approximately $12,932,000. Two Sigma Advisers LP lifted its holdings in MGP Ingredients by 4.1% during the fourth quarter. Two Sigma Advisers LP now owns 122,800 shares of the company’s stock worth $4,835,000 after buying an additional 4,800 shares during the period. Sherbrooke Park Advisers LLC purchased a new position in shares of MGP Ingredients in the 4th quarter valued at $328,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of MGP Ingredients by 58.3% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,996 shares of the company’s stock worth $79,000 after acquiring an additional 735 shares in the last quarter. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Company 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.