Headlines about MGP Ingredients (NASDAQ:MGPI) have been trending somewhat positive on Monday, Accern Sentiment reports. The research firm identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. MGP Ingredients earned a daily sentiment score of 0.05 on Accern’s scale. Accern also gave press coverage about the company an impact score of 47.2906909474881 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news stories that may have effected Accern’s rankings:
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MGP Ingredients, Inc. (MGPI) VP David E. Dykstra Sells 300 Shares (americanbankingnews.com) David E. Dykstra Sells 10,000 Shares of MGP Ingredients, Inc. (MGPI) Stock (americanbankingnews.com) MGP to Webcast Annual Meeting on May 23 (finance.yahoo.com) MGP Ingredients (MGPI) Lowered to Hold at BidaskClub (americanbankingnews.com)
MGPI has been the topic of a number of research analyst reports. BidaskClub lowered MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Monday, May 14th. Zacks Investment Research lowered MGP Ingredients from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Stifel Nicolaus dropped their price target on MGP Ingredients from $76.00 to $73.00 and set a “hold” rating on the stock in a research report on Tuesday, March 6th. Craig Hallum reaffirmed a “buy” rating and set a $105.00 price target (up previously from $90.00) on shares of MGP Ingredients in a research report on Monday, January 29th. Finally, Sidoti raised MGP Ingredients from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $87.33.
MGP Ingredients opened at $86.58 on Monday, according to MarketBeat Ratings. The stock has a market cap of $1.46 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 2.71 and a beta of 1.05. The company has a current ratio of 4.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.18. MGP Ingredients has a one year low of $47.64 and a one year high of $98.65.
MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Wednesday, May 2nd. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). The business had revenue of $88.00 million for the quarter, compared to analyst estimates of $92.80 million. MGP Ingredients had a return on equity of 18.46% and a net margin of 11.83%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 EPS. research analysts anticipate that MGP Ingredients will post 2.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Wednesday, May 16th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Tuesday, May 15th. MGP Ingredients’s dividend payout ratio is currently 17.11%.
In related news, VP Stephen J. Glaser sold 1,200 shares of MGP Ingredients stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $81.56, for a total value of $97,872.00. Following the sale, the vice president now owns 16,795 shares of the company’s stock, valued at approximately $1,369,800.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David E. Dykstra sold 300 shares of MGP Ingredients stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $88.01, for a total value of $26,403.00. Following the completion of the sale, the vice president now directly owns 40,933 shares in the company, valued at approximately $3,602,513.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,595 shares of company stock worth $3,951,162. 22.19% of the stock is currently owned by insiders.
About MGP Ingredients
MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products 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.