Ingram Micro Holding Corporation $INGM Stock: Sterling Capital Management LLC Trims Holdings

Sterling Capital Management LLC reduced its position in Ingram Micro Holding Corporation (NYSE:INGM) by 95.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,630 shares of the company’s stock after selling 33,784 shares during the quarter. Sterling Capital Management LLC’s holdings in Ingram Micro were worth $44,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in INGM. Allworth Financial LP raised its position in shares of Ingram Micro by 72.9% in the 2nd quarter. Allworth Financial LP now owns 1,290 shares of the company’s stock valued at $35,000 after buying an additional 544 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Ingram Micro by 252.2% during the 1st quarter. Royal Bank of Canada now owns 1,472 shares of the company’s stock worth $34,000 after acquiring an additional 1,054 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Ingram Micro during the 2nd quarter worth approximately $38,000. Reyes Financial Architecture Inc. bought a new position in Ingram Micro in the third quarter valued at approximately $43,000. Finally, Meeder Asset Management Inc. bought a new position in Ingram Micro in the second quarter valued at approximately $44,000.

Insider Buying and Selling at Ingram Micro

In other Ingram Micro news, major shareholder Platinum Equity, Llc sold 1,968,750 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $27.19, for a total transaction of $53,530,312.50. Following the sale, the insider owned 162,372,569 shares of the company’s stock, valued at approximately $4,414,910,151.11. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.95% of the company’s stock.

Wall Street Analyst Weigh In

INGM has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Ingram Micro from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 30th. Wall Street Zen raised Ingram Micro from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. Zacks Research lowered Ingram Micro from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Truist Financial lifted their price target on Ingram Micro from $29.00 to $31.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $33.00 price target on shares of Ingram Micro in a report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.50.

Ingram Micro Stock Down 1.5%

INGM stock opened at $26.12 on Thursday. The firm has a 50-day moving average price of $27.48 and a 200-day moving average price of $26.41. Ingram Micro Holding Corporation has a 12 month low of $19.03 and a 12 month high of $31.69. The company has a current ratio of 1.31, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $6.01 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 0.61 and a beta of 1.69.

Ingram Micro (NYSE:INGM) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.13. The company had revenue of $15.22 billion for the quarter, compared to analyst estimates of $13.83 billion. Ingram Micro had a net margin of 0.79% and a return on equity of 18.76%. During the same period in the previous year, the firm posted $0.72 EPS. As a group, equities research analysts anticipate that Ingram Micro Holding Corporation will post 3.52 EPS for the current fiscal year.

Ingram Micro Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be given a $0.0880 dividend. This is an increase from Ingram Micro’s previous quarterly dividend of $0.0860. This represents a $0.35 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, November 9th. Ingram Micro’s dividend payout ratio (DPR) is 17.17%.

Ingram Micro Company Profile

Ingram Micro Inc is a global technology distribution and services company that connects technology manufacturers with businesses, resellers, systems integrators and other channel partners. Its portfolio includes hardware, software, cloud solutions, cybersecurity products, networking equipment, data-center technologies and communications solutions.

The company also provides value-added services such as cloud marketplace management, device lifecycle services, logistics, fulfillment, financing support, technical assistance and professional services.