Harding Loevner: “MGP Ingredients (MGPI) Posted Record Growth and Margin Expansion”

Harding Loevner, an asset management company, released its “Global Small Companies Equity” second quarter investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -14.49% net of fees compared to a return of -16.96% for the MSCI All Country World Small Cap Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Harding Loevner discussed stocks like MGP Ingredients, Inc. (NASDAQ:MGPI) in the second quarter investor letter. Headquartered in Atchison, Kansas, MGP Ingredients, Inc. (NASDAQ:MGPI) is a supplier of distilled spirits. On September 23, 2022, MGP Ingredients, Inc. (NASDAQ:MGPI) stock closed at $102.89 per share. One-month return of MGP Ingredients, Inc. (NASDAQ:MGPI) was -7.03% and its shares gained 51.24% of their value over the last 52 weeks. MGP Ingredients, Inc. (NASDAQ:MGPI) has a market capitalization of $2.263 billion.

Here is what Harding Loevner specifically said about MGP Ingredients, Inc. (NASDAQ:MGPI) in its Q2 2022 investor letter:

“By region, our performance was aided by a renewed market preference for higher-quality small caps in the US, where the portfolio had its best stock selection. Shares of discount retailer Ollie’s Bargain Outlet rebounded from their first-quarter decline while shares of MGP Ingredients, Inc. (NASDAQ:MGPI) reached an all-time high. Ollie’s expects to benefit from the excess inventory at other retailers given its focus on closeout merchandise. MGP Ingredients posted record growth and margin expansion on strong demand for its aged whiskey as well as specialty wheat starches and proteins used in food products.”

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MGP Ingredients, Inc. (NASDAQ:MGPI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held MGP Ingredients, Inc. (NASDAQ:MGPI)  at the end of the second quarter which was 18 in the previous quarter.

We discussed MGP Ingredients, Inc. (NASDAQ:MGPI) in another article and shared the best liquor stocks to buy. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.