Pullen Investment Management LLC Purchases Shares of 67,977 Ingram Micro Holding Corporation (NYSE:INGM)

Pullen Investment Management LLC bought a new stake in shares of Ingram Micro Holding Corporation (NYSE:INGM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 67,977 shares of the company's stock, valued at approximately $1,206,000.

A number of other institutional investors have also recently modified their holdings of the business. California State Teachers Retirement System purchased a new position in Ingram Micro during the fourth quarter worth approximately $26,000. Wells Fargo & Company MN purchased a new position in shares of Ingram Micro during the 4th quarter valued at approximately $45,000. Cohen & Steers Inc. acquired a new stake in Ingram Micro in the 4th quarter valued at $48,000. Tower Research Capital LLC TRC acquired a new stake in Ingram Micro in the 4th quarter valued at $52,000. Finally, GAMMA Investing LLC increased its holdings in Ingram Micro by 5,873.5% in the 1st quarter. GAMMA Investing LLC now owns 4,062 shares of the company's stock worth $720,000 after acquiring an additional 3,994 shares in the last quarter.

Ingram Micro Stock Up 0.1%

NYSE INGM traded up $0.01 on Tuesday, reaching $19.33. 567,708 shares of the company were exchanged, compared to its average volume of 415,342. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.95 and a current ratio of 1.40. The business's fifty day moving average price is $18.62 and its 200 day moving average price is $20.06. Ingram Micro Holding Corporation has a fifty-two week low of $14.25 and a fifty-two week high of $25.69.

Ingram Micro announced that its board has initiated a stock buyback program on Tuesday, March 4th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Ingram Micro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were given 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 was Tuesday, May 20th. This represents a $0.30 annualized dividend and a dividend yield of 1.57%.

Wall Street Analyst Weigh In

Several research firms have issued reports on INGM. Jefferies Financial Group decreased their price objective on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Loop Capital decreased their price target on shares of Ingram Micro from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. The Goldman Sachs Group lowered their price objective on Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Morgan Stanley cut Ingram Micro from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $23.00 to $22.00 in a report on Wednesday, June 11th. Finally, Bank of America decreased their target price on Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Ingram Micro presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.71.

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.