Ameriprise Financial Inc. Acquires New Position in Ingram Micro Holding Corp. (NYSE:INGM)

Ameriprise Financial Inc. 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 1,582,376 shares of the company's stock, valued at approximately $30,683,000. Ameriprise Financial Inc. owned approximately 0.67% of Ingram Micro at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in INGM. Allspring Global Investments Holdings LLC bought a new position in shares of Ingram Micro in the fourth quarter valued at $17,432,000. Rhumbline Advisers bought a new position in shares of Ingram Micro in the fourth quarter valued at $171,000. New York State Common Retirement Fund bought a new position in shares of Ingram Micro in the fourth quarter valued at $304,000. Bank of New York Mellon Corp bought a new position in shares of Ingram Micro in the fourth quarter valued at $207,000. Finally, Keybank National Association OH bought a new position in shares of Ingram Micro in the fourth quarter valued at $319,000.

Analyst Ratings Changes

A number of equities analysts have commented on INGM shares. Morgan Stanley lifted their price objective on shares of Ingram Micro from $18.00 to $23.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. The Goldman Sachs Group reduced their price objective on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. lifted their price objective on shares of Ingram Micro from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Royal Bank of Canada lifted their price objective on shares of Ingram Micro from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, Raymond James reduced their price objective on shares of Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.79.

Ingram Micro Stock Up 0.8%

Shares of INGM stock traded up $0.17 on Monday, hitting $20.57. 340,062 shares of the stock were exchanged, compared to its average volume of 431,136. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. Ingram Micro Holding Corp. has a one year low of $14.25 and a one year high of $25.69. The firm has a 50 day moving average price of $17.93.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping 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. As a group, equities research analysts predict that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Ingram Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be issued a dividend of $0.076 per share. This is a boost from Ingram Micro's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.30 dividend on an annualized basis and a yield of 1.48%.

About Ingram Micro

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.