Paul S. Lux, a director and 10% shareholder of MGP Ingredients Inc., sold 33,000 common shares on August 20, 2026, through the Ann S. Lux 2005 Irrevocable Trust, where he serves as sole trustee.
The transaction was executed at prices ranging from $17,465 to $17,940 per share, totaling approximately $586.22 million. Following the sale, the trust retains 550,458 shares, over which Lux maintains voting and disposition control. At the time of the trade, MGPI’s stock was priced at $18.33, reflecting a modest gain from the disposal range.
The director’s divestment comes as MGPI’s shares have declined 29% over the past six months, despite the company reporting adjusted earnings per share of $0.72 in Q2 2026, beating analyst expectations of $0.47. Revenue for the quarter reached $124.4 million, slightly below Wall Street’s target of $125.22 million and representing a 15% year-over-year decrease.
MGP Ingredients has also modified its credit agreement with Wells Fargo Bank and other lenders to adjust EBITDA calculations. The amendment allows the company to add back up to $20 million in specific accounts receivable losses to avoid breaching financial covenants. Additionally, the firm adopted a "High Index Period" to manage earnout obligations tied to its acquisition of Penelope Bourbon LLC, with the adjustment deadline set for December 31, 2027.
