Nuveen LLC Makes New Investment in Ingram Micro Holding Corporation $INGM

Key Points

• Nuveen LLC made a new investment in Ingram Micro Holding Corporation, purchasing 13,598 shares valued at approximately $241,000.
• Ingram Micro reported a strong earnings performance with $0.61 EPS, exceeding analysts' expectations, along with a revenue of $12.79 billion for the quarter.
• The company increased its quarterly dividend to $0.078, reflecting a boost from the previous dividend and indicating a yield of 1.6%.

Nuveen LLC acquired a new position in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,598 shares of the company's stock, valued at approximately $241,000.

Several other large investors also recently modified their holdings of the company. Invesco Ltd. lifted its position in shares of Ingram Micro by 36.5% in the first quarter. Invesco Ltd. now owns 46,917 shares of the company's stock worth $832,000 after buying an additional 12,542 shares in the last quarter. Covestor Ltd purchased a new stake in Ingram Micro during the first quarter valued at approximately $88,000. Charles Schwab Investment Management Inc. purchased a new stake in Ingram Micro during the first quarter valued at approximately $1,706,000. Victory Capital Management Inc. grew its stake in shares of Ingram Micro by 32.2% during the first quarter. Victory Capital Management Inc. now owns 3,649,880 shares of the company's stock valued at $64,749,000 after buying an additional 889,075 shares during the last quarter. Finally, CWM LLC bought a new position in Ingram Micro in the first quarter worth approximately $26,000.

Ingram Micro Price Performance

NYSE:INGM traded up $0.14 during midday trading on Wednesday, hitting $20.58. 107,274 shares of the stock were exchanged, compared to its average volume of 370,266. Ingram Micro Holding Corporation has a one year low of $14.25 and a one year high of $25.69. The company has a market capitalization of $4.83 billion and a price-to-earnings ratio of 17.75. The business has a 50-day moving average price of $20.09 and a two-hundred day moving average price of $19.32. The company has a current ratio of 1.39, a quick ratio of 0.93 and a debt-to-equity ratio of 0.75.

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, beating the consensus estimate of $0.60 by $0.01. Ingram Micro had a return on equity of 17.33% and a net margin of 0.53%.The company had revenue of $12.79 billion for the quarter, compared to analysts' expectations of $11.99 billion. Sell-side analysts predict that Ingram Micro Holding Corporation will post 2.71 EPS for the current year.

Ingram Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a $0.078 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This is a boost from Ingram Micro's previous quarterly dividend of $0.08. This represents a $0.31 dividend on an annualized basis and a yield of 1.5%. Ingram Micro's payout ratio is 26.72%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Ingram Micro from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Raymond James Financial lowered their price objective on Ingram Micro from $26.00 to $24.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Zacks Research upgraded Ingram Micro from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Morgan Stanley cut Ingram Micro from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, June 11th. Finally, Wall Street Zen upgraded Ingram Micro from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.