33,547 Shares in Ingram Micro Holding Corp. (NYSE:INGM) Purchased by Northern Trust Corp

Northern Trust Corp purchased a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 33,547 shares of the company's stock, valued at approximately $650,000.

Several other institutional investors and hedge funds have also modified their holdings of INGM. Allspring Global Investments Holdings LLC acquired a new position in shares of Ingram Micro during the 4th quarter worth approximately $17,432,000. Rhumbline Advisers bought a new position in Ingram Micro during the 4th quarter worth approximately $171,000. New York State Common Retirement Fund bought a new stake in shares of Ingram Micro in the 4th quarter valued at $304,000. Bank of New York Mellon Corp acquired a new stake in shares of Ingram Micro during the fourth quarter worth $207,000. Finally, Keybank National Association OH bought a new position in Ingram Micro during the fourth quarter worth $319,000.

Wall Street Analysts Forecast Growth

INGM has been the subject of several research analyst reports. Jefferies Financial Group lowered their price objective on Ingram Micro from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. Loop Capital lowered their price objective on shares of Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Evercore ISI reduced their price target on shares of Ingram Micro from $27.00 to $26.00 and set an "in-line" rating for the company in a report on Wednesday, March 5th. Bank of America cut their price objective on shares of Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. increased their target price on Ingram Micro from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.79.

Ingram Micro Stock Performance

Shares of INGM traded up $0.20 during mid-day trading on Wednesday, reaching $19.44. The company had a trading volume of 4,862 shares, compared to its average volume of 378,057. The firm has a 50-day moving average price of $18.01 and a 200 day moving average price of $20.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. Ingram Micro Holding Corp. has a 52 week low of $14.25 and a 52 week high of $25.69.

Ingram Micro (NYSE:INGM - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.01. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $13.21 billion. Equities research analysts forecast that Ingram Micro Holding Corp. will post 2.71 EPS for the current fiscal year.

Ingram Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were paid a $0.076 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.30 annualized dividend and a dividend yield of 1.56%. This is an increase from Ingram Micro's previous quarterly dividend of $0.07.

Ingram Micro declared that its board has authorized a share buyback program on Tuesday, March 4th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

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.