Charles Schwab Investment Management Inc. Decreases Stake in MGP Ingredients, Inc. (NASDAQ:MGPI)

Charles Schwab Investment Management Inc. lessened its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,583 shares of the company’s stock after selling 1,354 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MGP Ingredients were worth $5,180,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its position in shares of MGP Ingredients by 1,292.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 188,693 shares of the company’s stock valued at $7,429,000 after purchasing an additional 175,142 shares in the last quarter. FMR LLC boosted its stake in MGP Ingredients by 14.2% during the third quarter. FMR LLC now owns 1,102,985 shares of the company’s stock worth $91,824,000 after buying an additional 137,292 shares during the last quarter. State Street Corp boosted its stake in MGP Ingredients by 22.4% during the third quarter. State Street Corp now owns 717,675 shares of the company’s stock worth $59,746,000 after buying an additional 131,542 shares during the last quarter. Portolan Capital Management LLC purchased a new stake in MGP Ingredients in the 3rd quarter valued at $6,777,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of MGP Ingredients in the 3rd quarter worth $6,429,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

MGP Ingredients Price Performance

Shares of MGPI opened at $28.85 on Wednesday. The firm has a 50-day simple moving average of $33.25 and a two-hundred day simple moving average of $48.83. The stock has a market cap of $613.64 million, a PE ratio of 6.00 and a beta of 0.57. MGP Ingredients, Inc. has a 1-year low of $28.65 and a 1-year high of $92.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94.

MGP Ingredients Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.12 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.66%. MGP Ingredients’s dividend payout ratio (DPR) is presently 31.79%.

Analyst Ratings Changes

Several research analysts have recently weighed in on MGPI shares. Roth Mkm lowered their price target on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Wells Fargo & Company decreased their target price on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. StockNews.com cut shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, Lake Street Capital raised shares of MGP Ingredients from a “hold” rating to a “buy” rating and reduced their price target for the company from $55.00 to $45.00 in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Buying and Selling at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg purchased 5,348 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $32.59 per share, for a total transaction of $174,291.32. Following the completion of the purchase, the director now directly owns 358,899 shares of the company’s stock, valued at approximately $11,696,518.41. This trade represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is owned by corporate insiders.

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.