Keybank National Association OH bought a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,475 shares of the company's stock, valued at approximately $319,000.
A number of other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers purchased a new position in Ingram Micro in the 4th quarter worth approximately $171,000. Bank of New York Mellon Corp purchased a new position in Ingram Micro during the fourth quarter worth approximately $207,000. New York State Common Retirement Fund acquired a new position in Ingram Micro during the fourth quarter worth $304,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Ingram Micro in the 4th quarter valued at $17,432,000.
Ingram Micro Price Performance
INGM traded up $0.45 during trading on Friday, reaching $19.13. The company's stock had a trading volume of 303,322 shares, compared to its average volume of 421,211. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average of $21.90. Ingram Micro Holding Corp. has a 52-week low of $18.38 and a 52-week high of $25.69.
Ingram Micro (NYSE:INGM - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 authorized a share repurchase program on Tuesday, March 4th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.
Ingram Micro Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Tuesday, March 11th.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on INGM. BNP Paribas started coverage on shares of Ingram Micro in a report on Monday, November 18th. They issued a "neutral" rating and a $25.00 price objective for the company. Melius Research upgraded shares of Ingram Micro to a "hold" rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft began coverage on Ingram Micro in a report on Monday, November 18th. They issued a "buy" rating and a $26.00 price objective on the stock. Melius began coverage on Ingram Micro in a research note on Tuesday, November 26th. They set a "hold" rating and a $26.00 target price for the company. Finally, Raymond James reduced their target price on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.93.
View Our Latest Stock Analysis on Ingram Micro
Ingram Micro Profile
(
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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