Aigen Investment Management LP Invests $254,000 in MGP Ingredients, Inc. (NASDAQ:MGPI)

Aigen Investment Management LP bought a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,460 shares of the company’s stock, valued at approximately $254,000.

Other large investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in MGP Ingredients in the 4th quarter valued at about $832,000. Assetmark Inc. lifted its stake in shares of MGP Ingredients by 9.6% in the fourth quarter. Assetmark Inc. now owns 12,475 shares of the company’s stock worth $491,000 after acquiring an additional 1,092 shares in the last quarter. Illumine Investment Management LLC acquired a new position in shares of MGP Ingredients in the fourth quarter worth about $263,000. Bank of New York Mellon Corp boosted its holdings in MGP Ingredients by 22.4% in the fourth quarter. Bank of New York Mellon Corp now owns 177,291 shares of the company’s stock valued at $6,980,000 after purchasing an additional 32,488 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in MGP Ingredients by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 68,634 shares of the company’s stock valued at $2,702,000 after purchasing an additional 1,973 shares in the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

MGP Ingredients Stock Down 0.6 %

MGPI stock opened at $34.01 on Monday. The firm has a fifty day moving average price of $34.87 and a two-hundred day moving average price of $53.79. 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, Inc. has a 1-year low of $31.31 and a 1-year high of $92.52. The firm has a market cap of $723.39 million, a price-to-earnings ratio of 7.07 and a beta of 0.57.

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.41%. MGP Ingredients’s dividend payout ratio (DPR) is 31.79%.

Analysts Set New Price Targets

Several research firms have recently commented on MGPI. Roth Mkm reduced their target price 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 downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Lake Street Capital raised shares of MGP Ingredients from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $55.00 to $45.00 in a report on Thursday, February 27th. Finally, Wells Fargo & Company cut 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.