Nuveen LLC Takes Position 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 shares of Ingram Micro Holding Corporation (NYSE:INGM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,598 shares of the company's stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in Ingram Micro by 36.5% during 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 during the last quarter. Covestor Ltd acquired a new position in Ingram Micro during the first quarter worth $88,000. Charles Schwab Investment Management Inc. acquired a new position in Ingram Micro during the first quarter worth $1,706,000. Victory Capital Management Inc. boosted its stake in Ingram Micro by 32.2% during the first quarter. Victory Capital Management Inc. now owns 3,649,880 shares of the company's stock worth $64,749,000 after buying an additional 889,075 shares during the last quarter. Finally, CWM LLC acquired a new position in shares of Ingram Micro in the 1st quarter valued at $26,000.

Ingram Micro Trading Up 2.3%

Shares of INGM stock traded up $0.47 on Thursday, hitting $21.12. The stock had a trading volume of 212,345 shares, compared to its average volume of 230,692. The company's 50 day moving average price is $20.06 and its 200-day moving average price is $19.32. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.39 and a quick ratio of 0.93. Ingram Micro Holding Corporation has a 1 year low of $14.25 and a 1 year high of $25.69. The firm has a market capitalization of $4.96 billion and a P/E ratio of 18.21.

Ingram Micro (NYSE:INGM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.61 earnings per share for the quarter, topping 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 the consensus estimate of $11.99 billion. Analysts anticipate that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current year.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a dividend of $0.078 per share. This is a positive change from Ingram Micro's previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, August 19th. This represents a $0.31 annualized dividend and a yield of 1.5%. Ingram Micro's dividend payout ratio (DPR) is currently 26.72%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INGM. Wall Street Zen raised Ingram Micro from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. upped their price target on Ingram Micro from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Zacks Research raised Ingram Micro from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Raymond James Financial decreased their price target on 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, Morgan Stanley lowered Ingram Micro from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $23.00 to $22.00 in a research note on Wednesday, June 11th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.