33,784 Ingram Micro Holding Corporation $INGM Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its stake in Ingram Micro Holding Corporation (NYSE:INGM) by 95.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,630 shares of the company’s stock after selling 33,784 shares during the period. Sterling Capital Management LLC’s holdings in Ingram Micro were worth $44,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of INGM. Platinum Equity Advisors LLC DE bought a new stake in shares of Ingram Micro during the second quarter worth approximately $4,867,901,130. BlackRock Inc. acquired a new position in shares of Ingram Micro in the second quarter valued at approximately $35,663,000. Allspring Global Investments Holdings LLC increased its stake in shares of Ingram Micro by 2.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,013,601 shares of the company’s stock worth $24,580,000 after purchasing an additional 25,266 shares during the period. Bank of America Corp DE increased its stake in shares of Ingram Micro by 225.1% during the first quarter. Bank of America Corp DE now owns 1,038,331 shares of the company’s stock worth $24,203,000 after purchasing an additional 718,970 shares during the period. Finally, Valley Wealth Managers Inc. lifted its holdings in Ingram Micro by 1.2% during the 3rd quarter. Valley Wealth Managers Inc. now owns 890,942 shares of the company’s stock worth $23,886,000 after purchasing an additional 10,738 shares during the last quarter.

Ingram Micro Stock Down 1.5%

Shares of INGM opened at $26.12 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. Ingram Micro Holding Corporation has a 12 month low of $19.03 and a 12 month high of $31.69. The firm’s 50 day moving average is $27.48 and its 200-day moving average is $26.41. The stock has a market capitalization of $6.01 billion, a PE ratio of 13.19, a P/E/G ratio of 0.61 and a beta of 1.69.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.13. The business had revenue of $15.22 billion during the quarter, compared to analysts’ expectations of $13.83 billion. Ingram Micro had a return on equity of 18.76% and a net margin of 0.79%. During the same period in the previous year, the company posted $0.72 earnings per share. Equities research analysts forecast that Ingram Micro Holding Corporation will post 3.52 EPS for the current year.

Ingram Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be issued a $0.0880 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.35 annualized dividend and a yield of 1.3%. This is a boost from Ingram Micro’s previous quarterly dividend of $0.0860. Ingram Micro’s payout ratio is presently 17.17%.

Insiders Place Their Bets

In other news, major shareholder Platinum Equity, Llc sold 1,968,750 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $27.19, for a total transaction of $53,530,312.50. Following the completion of the sale, the insider directly owned 162,372,569 shares in the company, valued at approximately $4,414,910,151.11. This represents a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

INGM has been the subject of several recent research reports. Zacks Research downgraded Ingram Micro from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Morgan Stanley lowered their price objective on Ingram Micro from $33.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 16th. Wall Street Zen raised Ingram Micro from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. Truist Financial lifted their target price on Ingram Micro from $29.00 to $31.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ingram Micro in a research report on Monday, August 31st. They issued a “hold” rating and a $30.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ingram Micro has an average rating of “Hold” and a consensus price target of $30.50.

About Ingram Micro

Ingram Micro Inc is a global technology distribution and services company that connects technology manufacturers with businesses, resellers, systems integrators and other channel partners. Its portfolio includes hardware, software, cloud solutions, cybersecurity products, networking equipment, data-center technologies and communications solutions.

The company also provides value-added services such as cloud marketplace management, device lifecycle services, logistics, fulfillment, financing support, technical assistance and professional services.