Bank of New York Mellon Corp Raises Stock Position in Ingram Micro Holding Corporation (NYSE:INGM)

Bank of New York Mellon Corp boosted its position in shares of Ingram Micro Holding Corporation (NYSE:INGM) by 108.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,193 shares of the company’s stock after purchasing an additional 11,543 shares during the period. Bank of New York Mellon Corp’s holdings in Ingram Micro were worth $394,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Ingram Micro by 10.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 975,379 shares of the company’s stock worth $17,342,000 after purchasing an additional 94,979 shares during the period. State of Alaska Department of Revenue purchased a new position in Ingram Micro during the first quarter worth about $851,000. Pullen Investment Management LLC purchased a new position in Ingram Micro during the first quarter worth about $1,206,000. Rhumbline Advisers raised its stake in Ingram Micro by 46.0% during the first quarter. Rhumbline Advisers now owns 12,843 shares of the company’s stock worth $228,000 after purchasing an additional 4,044 shares during the period. Finally, GAMMA Investing LLC raised its stake in Ingram Micro by 5,873.5% during the first quarter. GAMMA Investing LLC now owns 4,062 shares of the company’s stock worth $720,000 after purchasing an additional 3,994 shares during the period.

Ingram Micro Trading Up 0.3%

Shares of INGM stock opened at $19.49 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.95 and a current ratio of 1.40. The company has a 50 day moving average price of $20.25 and a 200 day moving average price of $19.99. Ingram Micro Holding Corporation has a fifty-two week low of $14.25 and a fifty-two week high of $25.69.

Ingram Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were given a $0.076 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Ingram Micro’s previous quarterly dividend of $0.07.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley downgraded shares of Ingram Micro from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, June 11th. JPMorgan Chase & Co. boosted their price target on shares of Ingram Micro from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Wall Street Zen downgraded shares of Ingram Micro from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. 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 on the stock in a research note on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Ingram Micro has a consensus rating of “Moderate Buy” and a consensus price target of $25.93.

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.