Invenomic Capital Management LP Has $19.97 Million Stock Holdings in Ingram Micro Holding Corporation $INGM

Invenomic Capital Management LP boosted its stake in shares of Ingram Micro Holding Corporation (NYSE:INGM) by 58.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 929,332 shares of the company’s stock after purchasing an additional 341,895 shares during the period. Invenomic Capital Management LP owned 0.40% of Ingram Micro worth $19,971,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of INGM. Comerica Bank raised its stake in shares of Ingram Micro by 2,844.2% during the 3rd quarter. Comerica Bank now owns 3,798 shares of the company’s stock worth $82,000 after purchasing an additional 3,669 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of Ingram Micro in the third quarter valued at $110,000. PNC Financial Services Group Inc. increased its holdings in Ingram Micro by 855.8% during the third quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the company’s stock worth $116,000 after buying an additional 4,835 shares during the last quarter. Crossingbridge Advisors LLC bought a new stake in Ingram Micro during the second quarter worth $206,000. Finally, Quantbot Technologies LP lifted its stake in Ingram Micro by 8.2% in the third quarter. Quantbot Technologies LP now owns 11,416 shares of the company’s stock valued at $245,000 after acquiring an additional 868 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $24.00 price objective on shares of Ingram Micro in a research report on Monday, December 15th. William Blair reiterated an “outperform” rating on shares of Ingram Micro in a research note on Tuesday, March 3rd. The Goldman Sachs Group cut Ingram Micro from a “strong-buy” rating to a “neutral” rating and set a $24.00 price target for the company. in a report on Tuesday, January 13th. Morgan Stanley upped their price objective on Ingram Micro from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, Raymond James Financial set a $27.00 price objective on Ingram Micro in a research report on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.33.

Ingram Micro Stock Up 0.3%

Shares of NYSE INGM opened at $21.47 on Monday. Ingram Micro Holding Corporation has a 12 month low of $14.25 and a 12 month high of $26.38. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 0.65. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.73 and a beta of 2.27. The stock has a 50-day moving average price of $21.58 and a two-hundred day moving average price of $21.45.

Ingram Micro (NYSE:INGM) last released its quarterly earnings results on Monday, March 2nd. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.06. The company had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $14.18 billion. Ingram Micro had a return on equity of 16.78% and a net margin of 0.62%.Ingram Micro’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, analysts forecast that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be given a $0.082 dividend. This is a boost from Ingram Micro’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 10th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.5%. Ingram Micro’s dividend payout ratio is presently 23.91%.

Ingram Micro announced that its board has authorized a stock buyback program on Monday, March 2nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.