Ingram Micro Holding Corporation (NYSE:INGM) Increases Dividend to $0.09 Per Share

Key Points

• Ingram Micro raised its quarterly dividend 2.3% to $0.088 per share, equivalent to $0.35 annually and a 1.2% yield. Shareholders of record on November 9 will receive payment on November 23.
• The company reported stronger-than-expected quarterly results, with EPS of $0.91 versus the $0.78 analyst consensus and revenue of $15.22 billion compared with expectations of $13.83 billion.
• Ingram Micro shares opened at $28.53, while major shareholder Platinum Equity sold 1.97 million shares for approximately $53.5 million, reducing its position by 1.2%.

Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Monday, November 9th will be paid a dividend of $0.0880 per share on Monday, November 23rd. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, November 9th. This is a 2.3% increase from Ingram Micro's previous quarterly dividend of $0.0860.

Ingram Micro Trading Up 0.5%

INGM opened at $28.53 on Friday. The business's 50-day simple moving average is $27.55 and its 200-day simple moving average is $26.29. Ingram Micro has a one year low of $19.03 and a one year high of $31.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.31. The company has a market cap of $6.58 billion, a P/E ratio of 15.59, a PEG ratio of 0.73 and a beta of 1.76.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.13. Ingram Micro had a return on equity of 18.07% and a net margin of 0.77%. The business had revenue of $15.22 billion for the quarter, compared to analysts' expectations of $13.83 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, equities research analysts expect that Ingram Micro will post 3.40 EPS for the current fiscal year.

Insider Buying and Selling at Ingram Micro

In other news, major shareholder Platinum Equity, Llc sold 1,968,750 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $27.19, for a total transaction of $53,530,312.50. Following the completion of the transaction, the insider directly owned 162,372,569 shares in the company, valued at approximately $4,414,910,151.11. This represents a 1.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.95% of the company's stock.

Hedge Funds Weigh In On Ingram Micro

Several hedge funds have recently modified their holdings of the company. Platinum Equity Advisors LLC DE acquired a new stake in shares of Ingram Micro in the second quarter worth about $4,867,901,130. BlackRock Inc. acquired a new stake in Ingram Micro during the second quarter valued at approximately $35,663,000. Bank of America Corp DE boosted its stake in shares of Ingram Micro by 225.1% in the 1st quarter. Bank of America Corp DE now owns 1,038,331 shares of the company's stock valued at $24,203,000 after purchasing an additional 718,970 shares in the last quarter. Lakewood Capital Management LP acquired a new position in Ingram Micro in the second quarter worth $10,835,000. Finally, Algert Global LLC acquired a new stake in shares of Ingram Micro in the second quarter valued at approximately $10,161,000.

Ingram Micro Company Profile

Ingram Micro Inc is a global technology distribution and services company that connects technology manufacturers with businesses, resellers, systems integrators and other channel partners. Its portfolio includes hardware, software, cloud solutions, cybersecurity products, networking equipment, data-center technologies and communications solutions.

The company also provides value-added services such as cloud marketplace management, device lifecycle services, logistics, fulfillment, financing support, technical assistance and professional services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.