CenterBook Partners LP Buys New Stake in Ingram Micro Holding Corp. (NYSE:INGM)

CenterBook Partners LP purchased a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM) during the fourth quarter, Holdings Channel reports. The fund purchased 63,115 shares of the company’s stock, valued at approximately $1,224,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN acquired a new position in Ingram Micro during the 4th quarter worth about $45,000. Russell Investments Group Ltd. purchased a new stake in Ingram Micro during the fourth quarter worth about $120,000. Rhumbline Advisers acquired a new stake in shares of Ingram Micro during the fourth quarter worth about $171,000. Bank of New York Mellon Corp purchased a new position in shares of Ingram Micro in the fourth quarter valued at approximately $207,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Ingram Micro in the fourth quarter valued at approximately $304,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INGM. Evercore ISI reduced 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. Bank of America decreased their target price on Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. The Goldman Sachs Group cut their price target on Ingram Micro from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Loop Capital decreased their price objective on Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, Morgan Stanley cut their target price on shares of Ingram Micro from $27.00 to $26.00 and set an “overweight” 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.64.

Ingram Micro Stock Performance

Shares of Ingram Micro stock opened at $15.39 on Friday. The firm has a fifty day moving average of $20.17. 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 issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.01. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $13.21 billion. Equities research analysts forecast that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

Ingram Micro declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Ingram Micro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Tuesday, March 11th.

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.