Keybank National Association OH Buys New Position in Ingram Micro Holding Corp. (NYSE:INGM)

Keybank National Association OH bought a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,475 shares of the company’s stock, valued at approximately $319,000.

Several other large investors also recently added to or reduced their stakes in INGM. Rhumbline Advisers bought a new position in shares of Ingram Micro in the fourth quarter worth approximately $171,000. Bank of New York Mellon Corp bought a new position in shares of Ingram Micro in the fourth quarter worth approximately $207,000. New York State Common Retirement Fund bought a new position in shares of Ingram Micro in the fourth quarter worth approximately $304,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Ingram Micro in the fourth quarter worth approximately $17,432,000.

Ingram Micro Stock Down 3.3 %

Ingram Micro stock opened at $18.93 on Tuesday. Ingram Micro Holding Corp. has a 52-week low of $18.40 and a 52-week high of $25.69. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93. The company’s fifty day simple moving average is $21.94.

Ingram Micro (NYSE:INGM) last announced its earnings results 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 firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $13.21 billion. Equities research analysts expect that Ingram Micro Holding Corp. will post 2.71 EPS for the current fiscal year.

Ingram Micro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a $0.074 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, March 11th.

Ingram Micro declared that its board has approved a share buyback program on Tuesday, March 4th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on INGM shares. Jefferies Financial Group started coverage on shares of Ingram Micro in a research report on Monday, November 18th. They issued a “buy” rating and a $28.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Ingram Micro in a research report on Monday, November 18th. They issued a “buy” rating and a $28.00 price target for the company. Melius Research raised shares of Ingram Micro to a “hold” rating in a report on Tuesday, November 26th. Morgan Stanley lowered their target price on shares of Ingram Micro from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $26.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Ingram Micro presently has an average rating of “Moderate Buy” and an average target price of $26.93.

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.