Nuveen Asset Management LLC Makes New Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Nuveen Asset Management LLC bought a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 15,727 shares of the company's stock, valued at approximately $305,000.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC bought a new position in Ingram Micro during the 4th quarter valued at $52,000. JPMorgan Chase & Co. acquired a new position in Ingram Micro in the fourth quarter worth about $37,793,000. Rhumbline Advisers bought a new position in Ingram Micro during the 4th quarter worth approximately $171,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Ingram Micro in the 4th quarter valued at approximately $17,432,000. Finally, Barclays PLC acquired a new stake in shares of Ingram Micro during the 4th quarter valued at approximately $1,092,000.

Wall Street Analysts Forecast Growth

INGM has been the subject of several recent research reports. The Goldman Sachs Group lowered their target price on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Morgan Stanley increased their price objective on shares of Ingram Micro from $18.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. raised their target price on shares of Ingram Micro from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Royal Bank of Canada upped their target price on Ingram Micro from $26.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Finally, Bank of America cut their price target on Ingram Micro from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Ingram Micro has a consensus rating of "Moderate Buy" and a consensus price target of $25.79.

Ingram Micro Stock Down 0.1%

Shares of INGM stock traded down $0.03 during mid-day trading on Monday, hitting $20.02. 206,227 shares of the stock traded hands, compared to its average volume of 415,611. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The company's 50-day simple moving average is $18.12 and its 200-day simple moving average is $20.19. Ingram Micro Holding Corp. has a twelve month low of $14.25 and a twelve month high of $25.69.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were issued a $0.076 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.52%. This is an increase from Ingram Micro's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, May 20th.

Ingram Micro announced that its board has approved a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.