Susquehanna Fundamental Investments LLC boosted its holdings in shares of Ingram Micro Holding Corporation (NYSE:INGM – Free Report) by 1,303.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 172,967 shares of the company’s stock after acquiring an additional 160,642 shares during the period. Susquehanna Fundamental Investments LLC owned 0.07% of Ingram Micro worth $4,744,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Susquehanna International Group LLP grew its holdings in Ingram Micro by 61.5% during the second quarter. Susquehanna International Group LLP now owns 21,639 shares of the company’s stock valued at $594,000 after purchasing an additional 8,239 shares during the period. Hsbc Holdings PLC bought a new position in shares of Ingram Micro during the second quarter worth $3,690,000. Empowered Funds LLC acquired a new position in shares of Ingram Micro in the 2nd quarter valued at $4,940,000. Public Employees Retirement System of Ohio bought a new stake in shares of Ingram Micro in the 2nd quarter valued at $344,000. Finally, Capstone Investment Advisors LLC bought a new position in Ingram Micro during the second quarter worth about $285,000.
Ingram Micro Stock Down 1.2%
Shares of Ingram Micro stock opened at $28.36 on Tuesday. The firm has a market cap of $6.54 billion, a PE ratio of 15.50, a P/E/G ratio of 0.70 and a beta of 1.75. The business’s 50 day simple moving average is $28.31 and its 200 day simple moving average is $26.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.31. Ingram Micro Holding Corporation has a 52-week low of $18.77 and a 52-week high of $31.69.
Ingram Micro Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a $0.086 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 1.2%. This is an increase from Ingram Micro’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, August 11th. Ingram Micro’s payout ratio is 18.58%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on INGM shares. Weiss Ratings lowered Ingram Micro from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ingram Micro in a report on Monday. They set a “hold” rating and a $30.00 target price on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $33.00 price target on shares of Ingram Micro in a research note on Friday, July 31st. Zacks Research downgraded shares of Ingram Micro from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Finally, Morgan Stanley raised their price objective on shares of Ingram Micro from $27.50 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.88.
View Our Latest Research Report on Ingram Micro
Insider Buying and Selling at Ingram Micro
In other Ingram Micro news, VP Augusto Aragone sold 10,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the vice president directly owned 140,465 shares of the company’s stock, valued at $4,213,950. The trade was a 6.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $29.03, for a total transaction of $150,000,013.07. Following the transaction, the insider owned 177,466,319 shares of the company’s stock, valued at approximately $5,151,847,240.57. This represents a 2.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,227,069 shares of company stock worth $151,765,013 over the last quarter. Company insiders own 0.95% of the company’s stock.
About Ingram Micro
Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.
The company’s offerings are organized across several core areas.
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