Sei Investments Co. Buys Shares of 256,837 Ingram Micro Holding Corp. (NYSE:INGM)

Sei Investments Co. purchased a new position in Ingram Micro Holding Corp. (NYSE:INGM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 256,837 shares of the company’s stock, valued at approximately $4,980,000.

Several other hedge funds also recently made changes to their positions in the stock. Rhumbline Advisers purchased a new stake in Ingram Micro during the 4th quarter worth about $171,000. Bank of New York Mellon Corp bought a new stake in shares of Ingram Micro during the fourth quarter valued at about $207,000. New York State Common Retirement Fund purchased a new stake in shares of Ingram Micro in the fourth quarter worth about $304,000. Keybank National Association OH bought a new position in shares of Ingram Micro in the fourth quarter valued at approximately $319,000. Finally, Burkehill Global Management LP purchased a new position in Ingram Micro during the fourth quarter valued at approximately $5,526,000.

Analyst Ratings Changes

Several brokerages have commented on INGM. Raymond James cut their price target on shares of Ingram Micro from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada boosted their target price on Ingram Micro from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Evercore ISI lowered their price target on Ingram Micro from $27.00 to $26.00 and set an “in-line” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on Ingram Micro from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Finally, Bank of America lowered their target price on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.64.

Ingram Micro Trading Up 0.2 %

Shares of NYSE:INGM opened at $17.77 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. The stock has a fifty day simple moving average of $21.42. Ingram Micro Holding Corp. has a 52 week low of $17.30 and a 52 week high of $25.69.

Ingram Micro (NYSE:INGM) last released its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. As a group, sell-side analysts forecast 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 was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.074 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.67%.

Ingram Micro declared that its Board of Directors has initiated a share 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.