67,977 Shares in Ingram Micro Holding Corp. (NYSE:INGM) Acquired by Pullen Investment Management LLC

Pullen Investment Management LLC purchased a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM) during the first quarter, Holdings Channel reports. The firm purchased 67,977 shares of the company’s stock, valued at approximately $1,206,000.

Several other hedge funds and other institutional investors also recently modified their holdings of INGM. Allspring Global Investments Holdings LLC purchased a new position in shares of Ingram Micro in the 4th quarter valued at approximately $17,432,000. Rhumbline Advisers purchased a new position in shares of Ingram Micro in the 4th quarter valued at approximately $171,000. New York State Common Retirement Fund purchased a new position in shares of Ingram Micro in the 4th quarter valued at approximately $304,000. Bank of New York Mellon Corp purchased a new position in shares of Ingram Micro in the 4th quarter valued at approximately $207,000. Finally, Keybank National Association OH purchased a new position in shares of Ingram Micro in the 4th quarter valued at approximately $319,000.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America lowered their target price on Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley downgraded Ingram Micro from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $23.00 to $22.00 in a research note on Wednesday. Loop Capital lowered their target price on Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Raymond James reduced their price target on Ingram Micro from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group reduced their price target on Ingram Micro from $29.00 to $25.00 and set a “buy” rating for the company in a report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.71.

Ingram Micro Stock Down 2.9%

Shares of INGM stock opened at $18.88 on Friday. The stock has a fifty day moving average price of $18.46 and a 200 day moving average price of $20.13. Ingram Micro Holding Corp. has a 1 year low of $14.25 and a 1 year 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were issued a dividend of $0.076 per share. The ex-dividend date was Tuesday, May 20th. This is a boost from Ingram Micro’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 1.61%.

Ingram Micro declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 4th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Ingram Micro 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.