Northern Trust Corp Purchases Shares of 33,547 Ingram Micro Holding Corp. (NYSE:INGM)

Northern Trust Corp bought a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 33,547 shares of the company's stock, valued at approximately $650,000.

A number of other large investors have also added to or reduced their stakes in INGM. Wells Fargo & Company MN acquired a new stake in Ingram Micro during the fourth quarter worth approximately $45,000. Cohen & Steers Inc. bought a new position in shares of Ingram Micro during the fourth quarter worth approximately $48,000. Tower Research Capital LLC TRC acquired a new stake in Ingram Micro during the 4th quarter worth approximately $52,000. Russell Investments Group Ltd. bought a new stake in Ingram Micro in the 4th quarter valued at $120,000. Finally, Rhumbline Advisers acquired a new position in Ingram Micro in the 4th quarter valued at $171,000.

Ingram Micro Price Performance

Shares of Ingram Micro stock traded up $0.40 during trading on Wednesday, reaching $19.64. 279,753 shares of the company's stock were exchanged, compared to its average volume of 418,737. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. Ingram Micro Holding Corp. has a 1-year low of $14.25 and a 1-year high of $25.69. The firm's 50-day moving average price is $18.04 and its 200 day moving average price is $20.25.

Ingram Micro (NYSE:INGM - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.91 by $0.01. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.21 billion. As a group, analysts forecast that Ingram Micro Holding Corp. will post 2.71 EPS for the current fiscal year.

Ingram Micro announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were issued a dividend of $0.076 per share. The ex-dividend date was Tuesday, May 20th. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 1.55%.

Analyst Upgrades and Downgrades

INGM has been the subject of a number of research reports. Morgan Stanley lifted their target price on Ingram Micro from $18.00 to $23.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. The Goldman Sachs Group cut their price objective on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. increased their target price on shares of Ingram Micro from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Royal Bank of Canada lifted their price target on shares of Ingram Micro from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Finally, Raymond James cut their price target on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.