Cubist Systematic Strategies LLC Takes $80,000 Position in Ingram Micro Holding Corp. (NYSE:INGM)

Cubist Systematic Strategies LLC purchased a new stake in Ingram Micro Holding Corp. (NYSE:INGM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,130 shares of the company’s stock, valued at approximately $80,000.

A number of other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN acquired a new position in Ingram Micro during the fourth quarter worth approximately $45,000. Cohen & Steers Inc. acquired a new position in Ingram Micro during the fourth quarter worth approximately $48,000. Tower Research Capital LLC TRC acquired a new position in Ingram Micro during the fourth quarter worth approximately $52,000. Russell Investments Group Ltd. acquired a new position in Ingram Micro during the fourth quarter worth approximately $120,000. Finally, Rhumbline Advisers acquired a new position in shares of Ingram Micro in the fourth quarter valued at approximately $171,000.

Ingram Micro Stock Up 0.8%

Shares of INGM stock opened at $20.57 on Tuesday. The firm has a fifty day simple moving average of $17.93. Ingram Micro Holding Corp. has a fifty-two week low of $14.25 and a fifty-two week high of $25.69. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40.

Ingram Micro (NYSE:INGM) last released its earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. As a group, analysts forecast that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current year.

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

Ingram Micro Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be given a $0.076 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, May 20th. This is a boost from Ingram Micro’s previous quarterly dividend of $0.07.

Analyst Ratings Changes

Several equities analysts have recently commented on INGM shares. JPMorgan Chase & Co. upped their target price on Ingram Micro from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. 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 research report on Friday, February 21st. Morgan Stanley upped their target price on Ingram Micro from $18.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. The Goldman Sachs Group decreased their target price on Ingram Micro from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, Loop Capital cut their price target on Ingram Micro from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.79.

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.