Charles Schwab Investment Management Inc. Takes $1.71 Million Position in Ingram Micro Holding Corporation $INGM

Key Points

• Charles Schwab Investment Management Inc. has invested approximately $1.71 million in Ingram Micro Holding Corporation by acquiring 96,144 shares in the first quarter of the year.
• The company's stock has been recently rated as a "Moderate Buy" by analysts, with a current average price target of $25.79.
• Ingram Micro announced an increase in its quarterly dividend to $0.078, resulting in an annualized dividend of $0.31 and a yield of 1.6%.

Charles Schwab Investment Management Inc. purchased a new position in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 96,144 shares of the company's stock, valued at approximately $1,706,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INGM. California State Teachers Retirement System purchased a new position in Ingram Micro in the fourth quarter worth about $26,000. CWM LLC purchased a new position in Ingram Micro in the first quarter worth about $26,000. Wells Fargo & Company MN purchased a new position in Ingram Micro in the fourth quarter worth about $45,000. Tower Research Capital LLC TRC purchased a new position in Ingram Micro in the fourth quarter worth about $52,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Ingram Micro in the fourth quarter worth about $80,000.

Ingram Micro Trading Up 0.8%

NYSE INGM traded up $0.15 during trading on Thursday, hitting $19.45. The stock had a trading volume of 65,585 shares, compared to its average volume of 372,943. The stock has a 50 day simple moving average of $20.15 and a 200 day simple moving average of $19.45. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.93 and a current ratio of 1.39. Ingram Micro Holding Corporation has a one year low of $14.25 and a one year high of $25.69. The stock has a market capitalization of $4.57 billion and a price-to-earnings ratio of 16.78.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Ingram Micro had a net margin of 0.53% and a return on equity of 17.33%. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $11.99 billion. Sell-side analysts predict that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current year.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a dividend of $0.078 per share. This is a boost from Ingram Micro's previous quarterly dividend of $0.08. This represents a $0.31 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Ingram Micro's payout ratio is presently 26.72%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Zacks Research raised shares of Ingram Micro from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Ingram Micro from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Raymond James Financial decreased their price objective on shares of Ingram Micro from $26.00 to $24.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Morgan Stanley downgraded shares of Ingram Micro from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, June 11th. Finally, Wall Street Zen downgraded shares of Ingram Micro from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.79.

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.