Zimmer Partners LP Acquires Shares of 15,000 Ingram Micro Holding Corp. (NYSE:INGM)

Zimmer Partners LP purchased a new position in Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 15,000 shares of the company's stock, valued at approximately $291,000.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Ingram Micro during the fourth quarter valued at $17,432,000. Rhumbline Advisers bought a new position in shares of Ingram Micro in the fourth quarter valued at approximately $171,000. New York State Common Retirement Fund acquired a new position in Ingram Micro during the 4th quarter worth $304,000. Bank of New York Mellon Corp acquired a new position in shares of Ingram Micro during the 4th quarter worth about $207,000. Finally, Keybank National Association OH acquired a new stake in shares of Ingram Micro in the fourth quarter worth $319,000.

Ingram Micro Stock Down 1.1%

Shares of INGM traded down $0.22 during trading hours on Monday, reaching $19.49. The stock had a trading volume of 181,651 shares, compared to its average volume of 426,756. Ingram Micro Holding Corp. has a 52 week low of $14.25 and a 52 week high of $25.69. The firm has a 50-day moving average of $17.99 and a 200 day moving average of $20.44. 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 (NYSE:INGM - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $13.21 billion. On average, equities analysts predict that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Ingram Micro Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.076 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, May 20th. This is a boost from Ingram Micro's previous quarterly dividend of $0.07.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on INGM shares. The Goldman Sachs Group dropped their price objective on shares of Ingram Micro from $29.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. boosted their price target on Ingram Micro from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Raymond James reduced their price objective on Ingram Micro from $28.00 to $26.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Evercore ISI lowered their price objective on Ingram Micro from $27.00 to $26.00 and set an "in-line" rating on the stock in a research report on Wednesday, March 5th. Finally, Bank of America cut their target price on Ingram Micro from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.79.

Ingram Micro 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.