The financial industry is buzzing with excitement over the latest news from HRT Financial LP. The company recently announced the acquisition of a new stake in MGP Ingredients, Inc. through its 13F filing with the Securities and Exchange Commission (SEC). This move demonstrates the continued growth and diversification of HRT Financial LP’s investment portfolio.
According to the filing, HRT Financial LP acquired 3,636 shares of MGP Ingredients, Inc. stock during the fourth quarter. This investment is valued at approximately $386,000 and positions HRT Financial LP as a significant shareholder in one of the leading suppliers of premium distilled spirits and specialty wheat proteins and starches.
Furthermore, shareholders are pleased with MGP Ingredients’s recent disclosure of its quarterly dividend payment, which was paid on Friday, June 2nd. Record holders of the company’s stock as of May 19th received a $0.12 per share dividend payout, representing an annualized dividend yield of 0.49%. With a strong dividend payout ratio currently standing at 10.41%, investors can expect solid returns from this investment for years to come.
In other news related to SHP’s holdings in MGP Ingredients, it has also been reported that Director Karen Seaberg sold 5,431 shares of MGP’s stock last March at an average price of $91.99 per share for a total amounting to $499,597.69. These shares represented just over one-tenth-of-one-percent drop in share ownership percentage by Seaberg after completing said transaction yet still retaining directorship rights ranked second highest amongst insider control for any single person involved with MGPI according our sources here at SVC News.
Overall these updates reflect ingenuity on behalf both companies involved –HRT Financial LP and MGPI-. It will be interesting to follow SHP’s future disclosures in their SEC filings; drawn out over the upcoming months, and just as compelling to witness MGPI’s next moves as a company under this new stakeholder influence. The finance world continues to watch with bated breath for more news from these industry giants.
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Institutional Investors Make Moves with MGP Ingredients Shares
MGP Ingredients, a leading producer of premium distilled spirits and specialty wheat proteins and starches, has experienced some recent changes in its institutional investors. North Star Investment Management Corp recently acquired a new stake in the company worth $32,000 while Captrust Financial Advisors grew its holdings by 76.2% during the first quarter, adding 412 shares to own 953 shares of MGP’s stock valued at $82,000. SG Americas Securities LLC also purchased a new stake in MGP Ingredients during the third quarter for $112,000. PNC Financial Services Group Inc., on the other hand, boosted its holdings by 22.2% in the first quarter and now owns 1,400 shares of the company’s stock valued at $120,000 after purchasing an additional 254 shares during the last quarter. Lastly, CWM LLC increased their stakes by a whopping 3,088.7% in the fourth quarter by owning an additional 1,637 shares worth $180,000.
However, it is important to note that hedge funds and other institutional investors now own approximately 78.64% of the company’s stock.
Meanwhile, StockNews.com recently initiated coverage on MGP Ingredients’ shares with a “hold” rating on the stock.
The company disclosed that it paid a quarterly dividend Friday June 2nd to shareholders of record May 19th amounting to $0.12 per share which equates to an annualized rate of $0.48 per share or a total dividend yield of 0.49%. The ex-dividend date was Thursday May 18th
As at Tuesday June 6th,MGP Ingredients Inc opened at $98.06 with market capitalization put at $2.15 billion.The firm currently boasts a price-to-earnings-growth ratio (PEG)of about2 .15 and beta ratings implicate low market volatility for this business.
In May, the company reported $201.01 million in revenue for the quarter which was above analyst estimates of $194.43 million with EPS of $1.39 exceeding their consensus estimate of $1.10.Equities analysts anticipate that MGP Ingredients will post 5.2 earnings per share (EPS) for the current fiscal year based on historical facts and trend analysis.
