Ameriprise Financial Inc. Makes New Investment in Ingram Micro Holding Corp. (NYSE:INGM)

Ameriprise Financial Inc. acquired a new stake in Ingram Micro Holding Corp. (NYSE:INGM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,582,376 shares of the company’s stock, valued at approximately $30,683,000. Ameriprise Financial Inc. owned approximately 0.67% of Ingram Micro as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alyeska Investment Group L.P. purchased a new position in shares of Ingram Micro during the fourth quarter valued at approximately $3,791,000. Freestone Grove Partners LP purchased a new position in shares of Ingram Micro in the 4th quarter valued at approximately $7,761,000. Soros Fund Management LLC bought a new stake in Ingram Micro during the fourth quarter worth about $1,939,000. Northern Trust Corp purchased a new position in Ingram Micro in the fourth quarter worth about $650,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Ingram Micro in the 4th quarter worth $924,000.

Ingram Micro Trading Up 2.8%

Shares of NYSE:INGM opened at $20.79 on Wednesday. The company’s 50 day moving average is $17.81. Ingram Micro Holding Corp. has a 12-month low of $14.25 and a 12-month high of $25.69. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93.

Ingram Micro (NYSE:INGM) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. As a group, research analysts expect 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 stock repurchase plan on Tuesday, March 4th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Ingram Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be given a $0.076 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.46%. This is an increase from Ingram Micro’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, May 20th.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INGM. Loop Capital lowered their price target on Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Royal Bank of Canada boosted their price objective on shares of Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Evercore ISI dropped their target price on shares of Ingram Micro from $27.00 to $26.00 and set an “in-line” rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group decreased their target price on shares of Ingram Micro from $29.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Raymond James dropped their price target on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.