Zimmer Partners LP Buys Shares of 15,000 Ingram Micro Holding Corp. (NYSE:INGM)

Zimmer Partners LP purchased a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM) in the fourth quarter, Holdings Channel reports. The fund purchased 15,000 shares of the company’s stock, valued at approximately $291,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital World Investors bought a new stake in shares of Ingram Micro in the 4th quarter worth $68,295,000. Victory Capital Management Inc. bought a new position in shares of Ingram Micro in the fourth quarter valued at $53,532,000. JPMorgan Chase & Co. acquired a new stake in shares of Ingram Micro during the 4th quarter valued at $37,793,000. American Century Companies Inc. bought a new stake in shares of Ingram Micro during the 4th quarter worth $36,268,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of Ingram Micro in the 4th quarter worth $30,683,000.

Ingram Micro Price Performance

Shares of NYSE:INGM opened at $20.33 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. Ingram Micro Holding Corp. has a 12-month low of $14.25 and a 12-month high of $25.69. The firm’s fifty day moving average is $17.96.

Ingram Micro (NYSE:INGM) last released its quarterly 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 business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $13.21 billion. On average, equities analysts predict that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be issued a dividend of $0.076 per share. This is an increase from Ingram Micro’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, May 20th.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on INGM shares. Royal Bank of Canada upped their target price on Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Evercore ISI reduced their price objective on shares of Ingram Micro from $27.00 to $26.00 and set an “in-line” rating for the company in a research note on Wednesday, March 5th. Bank of America decreased their target price on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on shares of Ingram Micro from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group reduced their price target on shares of Ingram Micro from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.79.

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.