Allspring Global Investments Holdings LLC Purchases New Shares in MGP Ingredients, Inc. $MGPI

Allspring Global Investments Holdings LLC bought a new position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 166,606 shares of the company’s stock, valued at approximately $3,064,000.

Several other institutional investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MGP Ingredients by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,446 shares of the company’s stock valued at $248,000 after purchasing an additional 390 shares in the last quarter. Counterpoint Mutual Funds LLC raised its position in shares of MGP Ingredients by 2.2% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 20,737 shares of the company’s stock valued at $504,000 after purchasing an additional 440 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of MGP Ingredients by 130.3% during the 2nd quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 529 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of MGP Ingredients by 4.8% during the 2nd quarter. Prudential Financial Inc. now owns 14,608 shares of the company’s stock valued at $438,000 after buying an additional 666 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of MGP Ingredients by 1.3% during the second quarter. Rhumbline Advisers now owns 52,446 shares of the company’s stock worth $1,572,000 after buying an additional 666 shares in the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of NASDAQ MGPI opened at $17.69 on Friday. The company has a quick ratio of 0.56, a current ratio of 2.74 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $17.13 and its two-hundred day moving average price is $19.88. MGP Ingredients, Inc. has a 52-week low of $15.72 and a 52-week high of $31.95. The stock has a market capitalization of $378.04 million, a P/E ratio of -1.59 and a beta of 0.46.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. The company had revenue of $106.43 million during the quarter, compared to the consensus estimate of $105.32 million. MGP Ingredients had a negative net margin of 45.70% and a positive return on equity of 7.48%. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, sell-side analysts forecast that MGP Ingredients, Inc. will post 1.6 earnings per share for the current year.

MGP Ingredients Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.48 annualized dividend and a yield of 2.7%. MGP Ingredients’s dividend payout ratio (DPR) is presently -4.31%.

Insider Activity at MGP Ingredients

In other news, major shareholder Caroline Lux Kaplan sold 30,000 shares of MGP Ingredients stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $17.82, for a total transaction of $534,600.00. Following the transaction, the insider directly owned 500,958 shares in the company, valued at approximately $8,927,071.56. This trade represents a 5.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 31.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MGPI. Zacks Research upgraded shares of MGP Ingredients from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Wells Fargo & Company decreased their price target on MGP Ingredients from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Weiss Ratings lowered MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Finally, TD Cowen cut their price objective on MGP Ingredients from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.50.

MGP Ingredients Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.