Rhumbline Advisers Makes New $171,000 Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Rhumbline Advisers bought a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,799 shares of the company’s stock, valued at approximately $171,000.

Separately, Allspring Global Investments Holdings LLC purchased a new position in shares of Ingram Micro during the 4th quarter worth $17,432,000.

Ingram Micro Price Performance

Shares of Ingram Micro stock opened at $18.93 on Tuesday. Ingram Micro Holding Corp. has a one year low of $18.40 and a one year high of $25.69. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The stock’s 50-day moving average is $21.94.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. As a group, equities research analysts forecast that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Tuesday, March 11th.

Ingram Micro declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America reduced their price target on Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Raymond James reduced their price target on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group reduced their price objective on shares of Ingram Micro from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Redburn Atlantic began coverage on shares of Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Melius began coverage on shares of Ingram Micro in a report on Tuesday, November 26th. They issued a “hold” rating and a $26.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Ingram Micro currently has an average rating of “Moderate Buy” and an average price target of $26.93.

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.