Ingram Micro Holding Corporation $INGM Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its stake in Ingram Micro Holding Corporation by 3.8%, owning over 1 million shares valued at approximately $21.57 million as of the latest SEC filing.
• Ingram Micro reported a net revenue of $12.79 billion for the quarter ending August 6, exceeding analysts’ expectations, with earnings per share coming in at $0.61.
• The company recently declared a quarterly dividend of $0.078, marking an increase from the previous dividend, with a current annual yield of 1.4%.

Allspring Global Investments Holdings LLC lifted its holdings in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,012,843 shares of the company's stock after acquiring an additional 37,464 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.43% of Ingram Micro worth $21,574,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its holdings in Ingram Micro by 16.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,369 shares of the company's stock valued at $133,000 after purchasing an additional 917 shares in the last quarter. CWM LLC acquired a new stake in Ingram Micro during the 1st quarter valued at $26,000. Rhumbline Advisers grew its holdings in Ingram Micro by 46.0% during the 1st quarter. Rhumbline Advisers now owns 12,843 shares of the company's stock valued at $228,000 after purchasing an additional 4,044 shares in the last quarter. Covestor Ltd acquired a new stake in Ingram Micro during the 1st quarter valued at $88,000. Finally, Parallel Advisors LLC grew its holdings in Ingram Micro by 563.3% during the 2nd quarter. Parallel Advisors LLC now owns 7,422 shares of the company's stock valued at $155,000 after purchasing an additional 6,303 shares in the last quarter.

Ingram Micro Trading Down 0.9%

Ingram Micro stock opened at $21.72 on Friday. The firm's 50-day moving average is $20.48 and its 200-day moving average is $19.60. 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 1 year low of $14.25 and a 1 year high of $25.69. The company has a market cap of $5.10 billion and a P/E ratio of 18.72.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Ingram Micro had a net margin of 0.53% and a return on equity of 17.33%. The company had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $11.99 billion. On average, equities analysts expect that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current year.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a $0.078 dividend. This represents a $0.31 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, August 19th. This is an increase from Ingram Micro's previous quarterly dividend of $0.08. Ingram Micro's payout ratio is 26.72%.

Wall Street Analyst Weigh In

INGM has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Ingram Micro from a "hold" rating to a "buy" rating in a report on Friday, September 5th. JPMorgan Chase & Co. increased their price objective on shares of Ingram Micro from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Ingram Micro in a research note on Wednesday, October 8th. Raymond James Financial reduced their price objective on shares of Ingram Micro from $26.00 to $24.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, Zacks Research upgraded shares of Ingram Micro from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.79.

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.

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