Watershed Asset Management L.L.C. bought a new stake in Ingram Micro Holding Corporation (NYSE:INGM – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,184 shares of the company’s stock, valued at approximately $470,000.
Several other large investors have also modified their holdings of INGM. Allspring Global Investments Holdings LLC grew its holdings in shares of Ingram Micro by 2.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,013,601 shares of the company’s stock worth $24,580,000 after purchasing an additional 25,266 shares during the period. Bank of New York Mellon Corp raised its holdings in Ingram Micro by 5.4% in the 1st quarter. Bank of New York Mellon Corp now owns 144,906 shares of the company’s stock valued at $3,378,000 after buying an additional 7,444 shares during the period. Fifth Third Bancorp lifted its position in Ingram Micro by 301,581.0% in the first quarter. Fifth Third Bancorp now owns 63,353 shares of the company’s stock valued at $1,477,000 after buying an additional 63,332 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Ingram Micro during the first quarter worth about $355,000. Finally, Counterpoint Mutual Funds LLC boosted its stake in Ingram Micro by 32.6% during the first quarter. Counterpoint Mutual Funds LLC now owns 15,145 shares of the company’s stock worth $353,000 after buying an additional 3,723 shares during the period.
Ingram Micro Stock Up 3.0%
Shares of NYSE:INGM opened at $29.25 on Friday. The firm has a market capitalization of $6.78 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 0.83 and a beta of 1.78. Ingram Micro Holding Corporation has a 1 year low of $18.09 and a 1 year high of $31.69. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.31 and a quick ratio of 0.93. The firm’s 50-day moving average is $27.89 and its two-hundred day moving average is $25.05.
Ingram Micro Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a $0.084 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.34 annualized dividend and a yield of 1.1%. This is a boost from Ingram Micro’s previous quarterly dividend of $0.08. Ingram Micro’s dividend payout ratio is 22.52%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on INGM shares. Evercore set a $26.00 price target on shares of Ingram Micro in a research note on Monday, April 20th. Morgan Stanley lifted their target price on shares of Ingram Micro from $27.50 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, June 23rd. The Goldman Sachs Group boosted their target price on Ingram Micro from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada upped their price target on Ingram Micro from $24.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings upgraded Ingram Micro from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Ingram Micro presently has a consensus rating of “Hold” and a consensus price target of $30.29.
Read Our Latest Report on Ingram Micro
Insider Buying and Selling at Ingram Micro
In other news, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $29.03, for a total value of $150,000,013.07. Following the sale, the insider directly owned 177,466,319 shares in the company, valued at approximately $5,151,847,240.57. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Augusto Aragone sold 50,000 shares of Ingram Micro stock in a transaction on Friday, June 12th. The shares were sold at an average price of $29.30, for a total value of $1,465,000.00. Following the completion of the transaction, the vice president owned 150,465 shares of the company’s stock, valued at approximately $4,408,624.50. This trade represents a 24.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 5,227,069 shares of company stock valued at $151,765,013. Insiders own 0.95% of the company’s stock.
Ingram Micro Company Profile
Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.
The company’s offerings are organized across several core areas.
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