CenterBook Partners LP Makes New Investment in Ingram Micro Holding Corp. (NYSE:INGM)

CenterBook Partners LP bought a new stake in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 63,115 shares of the company's stock, valued at approximately $1,224,000.

A number of other large investors have also added to or reduced their stakes in INGM. Allspring Global Investments Holdings LLC bought a new stake in shares of Ingram Micro during the 4th quarter worth approximately $17,432,000. Rhumbline Advisers acquired a new position in shares of Ingram Micro during the fourth quarter valued at about $171,000. New York State Common Retirement Fund acquired a new position in shares of Ingram Micro during the fourth quarter valued at about $304,000. Bank of New York Mellon Corp bought a new stake in Ingram Micro during the fourth quarter worth $207,000. Finally, Keybank National Association OH bought a new position in shares of Ingram Micro during the 4th quarter worth approximately $319,000.

Ingram Micro Trading Up 1.0 %

NYSE INGM traded up $0.16 on Tuesday, hitting $15.89. 477,948 shares of the stock traded hands, compared to its average volume of 445,804. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. Ingram Micro Holding Corp. has a twelve month low of $14.25 and a twelve month high of $25.69. The company has a 50-day moving average price of $19.82.

Ingram Micro (NYSE:INGM - Get Free Report) last announced its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $13.21 billion. On average, analysts anticipate that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current fiscal year.

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Ingram Micro announced that its board has authorized a stock buyback program on Tuesday, March 4th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Ingram Micro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.074 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.86%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INGM. Raymond James decreased their price objective on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Jefferies Financial Group dropped their price target on Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. The Goldman Sachs Group reduced their price objective on shares of Ingram Micro from $33.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Evercore ISI dropped their price target on Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a research note on Wednesday, March 5th. Finally, Morgan Stanley lowered their price target on shares of Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.64.

Ingram Micro Company Profile

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.