Invenomic Capital Management LP Has $19.97 Million Position in Ingram Micro Holding Corporation $INGM

Invenomic Capital Management LP increased its holdings in shares of Ingram Micro Holding Corporation (NYSE:INGM) by 58.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 929,332 shares of the company’s stock after acquiring an additional 341,895 shares during the period. Invenomic Capital Management LP’s holdings in Ingram Micro were worth $19,971,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INGM. Synergy Asset Management LLC acquired a new stake in Ingram Micro in the third quarter valued at approximately $2,262,000. American Century Companies Inc. lifted its position in shares of Ingram Micro by 1.9% during the third quarter. American Century Companies Inc. now owns 2,914,724 shares of the company’s stock valued at $62,637,000 after purchasing an additional 54,971 shares in the last quarter. AXQ Capital LP purchased a new position in Ingram Micro during the second quarter worth about $432,000. Crossingbridge Advisors LLC grew its position in Ingram Micro by 600.0% in the 3rd quarter. Crossingbridge Advisors LLC now owns 70,000 shares of the company’s stock worth $1,504,000 after purchasing an additional 60,000 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Ingram Micro in the 2nd quarter worth about $1,099,000.

Wall Street Analyst Weigh In

Several research firms have commented on INGM. The Goldman Sachs Group cut shares of Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research report on Tuesday, January 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Ingram Micro in a report on Monday, December 22nd. Raymond James Financial set a $27.00 price objective on Ingram Micro in a report on Tuesday, March 3rd. William Blair reiterated an “outperform” rating on shares of Ingram Micro in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingram Micro in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ingram Micro has a consensus rating of “Hold” and a consensus price target of $24.33.

Ingram Micro Stock Up 0.3%

Shares of NYSE:INGM opened at $21.47 on Monday. Ingram Micro Holding Corporation has a 12-month low of $14.25 and a 12-month high of $26.38. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average price is $21.58 and its 200-day moving average price is $21.45. The stock has a market capitalization of $5.05 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 0.73 and a beta of 2.27.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings data on Monday, March 2nd. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.90 by $0.06. Ingram Micro had a net margin of 0.62% and a return on equity of 16.78%. The business had revenue of $14.88 billion during the quarter, compared to analyst estimates of $14.18 billion. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts anticipate that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current year.

Ingram Micro declared that its Board of Directors has initiated a stock buyback program on Monday, March 2nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Ingram Micro Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a $0.082 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, March 10th. This is a boost from Ingram Micro’s previous quarterly dividend of $0.08. Ingram Micro’s dividend payout ratio (DPR) is 23.91%.

Ingram Micro 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.