Bank of Montreal Can bought a new stake in shares of Ingram Micro Inc. (NYSE:IM) during the second quarter, Holdings Channel reports. The institutional investor bought 96,266 shares of the company’s stock, valued at approximately $3,350,000.
Several other hedge funds have also recently bought and sold shares of IM. Weaver C. Barksdale & Associates Inc. increased its stake in Ingram Micro by 8.4% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 5,515 shares of the company’s stock valued at $192,000 after buying an additional 427 shares during the last quarter. Oakbrook Investments LLC increased its stake in Ingram Micro by 7.1% in the second quarter. Oakbrook Investments LLC now owns 7,500 shares of the company’s stock valued at $261,000 after buying an additional 500 shares during the last quarter. M&T Bank Corp increased its stake in Ingram Micro by 13.7% in the first quarter. M&T Bank Corp now owns 9,847 shares of the company’s stock valued at $353,000 after buying an additional 1,184 shares during the last quarter. Balasa Dinverno & Foltz LLC increased its stake in Ingram Micro by 9.0% in the second quarter. Balasa Dinverno & Foltz LLC now owns 18,347 shares of the company’s stock valued at $638,000 after buying an additional 1,509 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in Ingram Micro by 70.4% in the second quarter. LS Investment Advisors LLC now owns 8,954 shares of the company’s stock valued at $311,000 after buying an additional 3,699 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.
Shares of Ingram Micro Inc. (NYSE:IM) traded up 0.17% during trading on Friday, hitting $36.09. The stock had a trading volume of 829,936 shares. Ingram Micro Inc. has a one year low of $26.44 and a one year high of $36.66. The firm’s 50-day moving average is $35.20 and its 200-day moving average is $34.89. The firm has a market cap of $5.40 billion, a P/E ratio of 21.11 and a beta of 0.82.
Ingram Micro (NYSE:IM) last announced its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.12. The company earned $10.10 billion during the quarter, compared to the consensus estimate of $9.67 billion. Ingram Micro had a return on equity of 10.03% and a net margin of 0.64%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Equities research analysts forecast that Ingram Micro Inc. will post $2.62 EPS for the current year.
Several research firms have recently weighed in on IM. Zacks Investment Research raised Ingram Micro from a “sell” rating to a “hold” rating in a report on Monday, July 4th. Jefferies Group reaffirmed a “hold” rating on shares of Ingram Micro in a research note on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $35.75.
Ingram Micro Company Profile
Ingram Micro Inc (Ingram Micro) is engaged in the distribution of information technology (IT) products, supply chain services and mobile device lifecycle services around the world. The Company distributes and markets technology products all over the world from the industry’s computer hardware suppliers, mobility hardware suppliers, software publishers, consumer electronics (CE), automatic identification and data capture (AIDC)/point-of-sale (POS), and physical security products.
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