Victory Capital Management Inc. purchased a new position in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,760,805 shares of the company's stock, valued at approximately $53,532,000. Victory Capital Management Inc. owned 1.18% of Ingram Micro at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers bought a new position in Ingram Micro in the 4th quarter worth about $171,000. Bank of New York Mellon Corp purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $207,000. New York State Common Retirement Fund bought a new position in shares of Ingram Micro in the fourth quarter valued at approximately $304,000. Keybank National Association OH purchased a new position in Ingram Micro during the fourth quarter valued at approximately $319,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Ingram Micro during the fourth quarter valued at approximately $17,432,000.
Ingram Micro Price Performance
NYSE:INGM traded up $0.23 during trading hours on Tuesday, reaching $19.08. The company's stock had a trading volume of 456,064 shares, compared to its average volume of 420,251. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The firm's 50-day moving average price is $21.94. Ingram Micro Holding Corp. has a 1 year low of $18.40 and a 1 year high of $25.69.
Ingram Micro (NYSE:INGM - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $13.21 billion. Research analysts anticipate that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.
Ingram Micro declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.
Ingram Micro Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Tuesday, March 11th.
Analyst Ratings Changes
INGM has been the subject of several analyst reports. Stifel Nicolaus initiated coverage on shares of Ingram Micro in a report on Monday, November 18th. They issued a "buy" rating and a $28.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Ingram Micro in a research note on Monday, November 18th. They set a "buy" rating and a $26.00 price objective for the company. William Blair initiated coverage on Ingram Micro in a research note on Monday, November 18th. They issued an "outperform" rating on the stock. The Goldman Sachs Group dropped their price target on Ingram Micro from $33.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Finally, Melius Research upgraded shares of Ingram Micro to a "hold" rating in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Ingram Micro currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.93.
Check Out Our Latest Report on INGM
About Ingram Micro
(
Free Report)
Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world's leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.
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