It is currently trading at $67.96 barely above $61.80, the 50 day moving average and quite a bit above the 200 day moving average of $56.25. The 50 day moving average was up by +9.97% and the 200 day average moved up $11.71. 177K shares changed hands on Tuesday. Trading volume was up 123.24% over the stocks average daily volume.
Investors are a little more bearish on MGP Ingredients, Inc. of late as evidenced by the change in short interest. The firm saw a rise in short interest of 0.69% as of the latest report on October 13, 2017. Short shares increased 17,325 over that timeframe. Days to cover increased from 27.0 to 31.0 and the short interest percentage is 0.15% as of October 13.
MGP Ingredients, Inc. (NASDAQ:MGPI) has been the object of insider selling activity recently. Karen Seaberg, Director reported the sale of 5,305 shares. The shares were sold on October 24th for an average price of $64.03. Seaberg now owns $158,177,343 of the stock per the Form 4 SEC filing.
Additionally, here are a few investment firms who have increased or decreased their stake in (MGPI). Victory Capital Management Inc augmented its stake by buying 455 shares an increase of 21.0% from 06/30/2017 to 09/30/2017. Victory Capital Management Inc now holds 2,620 shares valued at $159,000. The value of the position overall is up by 43.2%. Huntington National Bank trimmed its ownership by selling 10 shares a decrease of 1.9% in the quarter. Huntington National Bank currently owns 506 shares with a value of $31,000. The total value of its holdings increased 19.2%.
Aperio Group, LLC cut its investment by shedding 418 shares a decrease of 8.9% as of 09/30/2017. Aperio Group, LLC now controls 4,275 shares worth $259,000. The value of the position overall is up by 7.9%. Raymond James Financial Services Advisors, Inc. added to its position by buying 146,399 shares an increase of 3.3%. Raymond James Financial Services Advisors, Inc. owns 4,632,786 shares with a value of $280,886,000. The total value of its holdings increased 22.4%.
The company is trading up by 2.06% percent from yesterday’s close. Additionally the company recently declared a dividend paid on Friday the 8th of September 2017. The dividend payment was $0.040 per share for the quarter or $0.16 on an annualized basis. The dividend yield was $0.24. The ex-dividend date was set for Wednesday the 16th of August 2017.
MGP Ingredients, Inc.’s P/E ratio is 35.49 and the market cap is 1.14B. As of the last earnings report the EPS was $1.91 and is expected to be $1.69 for the current year with 16,715,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.45 and the next full year EPS is anticipated to be $1.95.
MGP Ingredients, Inc., launched on October 18, 2011, is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Business’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Business’s segments include distillery products and ingredient solutions. The distillery products segment consists of food grade alcohol and distillery co-products, such as distillers feed and fuel grade alcohol. The ingredient solutions segment consists of specialty starches and proteins, commodity starches and commodity proteins. The distillery products segment also includes warehouse services, including barrel put away, barrel storage, and barrel retrieval services. The Company is also a producer of industrial alcohol for use in both food and non-food applications. The Business’s distillery products are derived from corn and other grains (including rye, barley, wheat, barley malt and milo), and its ingredient products are derived from wheat flour..Advertisement