47,375 Shares in Ingram Micro Holding Corporation $INGM Purchased by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia acquired 47,375 Ingram Micro shares worth approximately $1.3 million in the second quarter, while several other institutional investors also increased their positions.
• Insiders sold 5.23 million shares worth about $151.8 million over the past three months, including a 5.17 million-share sale by major shareholder Platinum Equity.
• Ingram Micro beat quarterly earnings and revenue estimates, and raised its quarterly dividend to $0.086 per share. Analysts remain cautious, with the stock carrying a consensus “Hold” rating and a $31 price target.

Bank of Nova Scotia acquired a new stake in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 47,375 shares of the company's stock, valued at approximately $1,299,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Balyasny Asset Management L.P. raised its stake in Ingram Micro by 1.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 48,618 shares of the company's stock valued at $1,038,000 after acquiring an additional 658 shares during the period. CWM LLC boosted its position in Ingram Micro by 20.5% during the fourth quarter. CWM LLC now owns 4,144 shares of the company's stock worth $88,000 after purchasing an additional 705 shares during the period. Gotham Asset Management LLC increased its holdings in shares of Ingram Micro by 1.0% in the fourth quarter. Gotham Asset Management LLC now owns 77,662 shares of the company's stock valued at $1,657,000 after purchasing an additional 732 shares during the last quarter. Covestor Ltd raised its position in shares of Ingram Micro by 15.4% in the fourth quarter. Covestor Ltd now owns 5,669 shares of the company's stock valued at $121,000 after purchasing an additional 756 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Ingram Micro by 6.3% in the second quarter. Rhumbline Advisers now owns 13,646 shares of the company's stock valued at $284,000 after purchasing an additional 803 shares during the period.

Insider Activity at Ingram Micro

In other news, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $29.03, for a total transaction of $150,000,013.07. Following the completion of the transaction, the insider directly owned 177,466,319 shares in the company, valued at approximately $5,151,847,240.57. This represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Augusto Aragone sold 50,000 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $29.30, for a total transaction of $1,465,000.00. Following the transaction, the vice president owned 150,465 shares of the company's stock, valued at $4,408,624.50. This trade represents a 24.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 5,227,069 shares of company stock valued at $151,765,013. 0.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wall Street Zen cut Ingram Micro from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 16th. Morgan Stanley increased their price objective on Ingram Micro from $27.50 to $33.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 23rd. Truist Financial boosted their target price on shares of Ingram Micro from $29.00 to $31.00 and gave the company a "hold" rating in a research report on Tuesday, August 4th. Weiss Ratings lowered shares of Ingram Micro from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Finally, Zacks Research lowered shares of Ingram Micro from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $31.00.

Ingram Micro Stock Performance

NYSE:INGM opened at $29.07 on Thursday. Ingram Micro Holding Corporation has a twelve month low of $18.77 and a twelve month high of $31.69. The company has a quick ratio of 0.88, a current ratio of 1.31 and a debt-to-equity ratio of 0.60. The stock's 50-day simple moving average is $28.28 and its 200 day simple moving average is $26.52. The firm has a market capitalization of $6.71 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 0.71 and a beta of 1.75.

Ingram Micro (NYSE:INGM - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. The firm had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $13.85 billion. Ingram Micro had a return on equity of 18.07% and a net margin of 0.77%.Ingram Micro has set its Q3 2026 guidance at 0.720-0.820 EPS. On average, analysts anticipate that Ingram Micro Holding Corporation will post 3.37 EPS for the current fiscal year.

Ingram Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.086 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.34 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Ingram Micro's previous quarterly dividend of $0.08. Ingram Micro's dividend payout ratio is currently 18.58%.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro's end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company's offerings are organized across several core areas.

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