Ingram Micro Holding Corp. Announces Quarterly Dividend of $0.07 (NYSE:INGM)

Ingram Micro Holding Corp. (NYSE:INGM) declared a quarterly dividend on Tuesday, March 4th, RTT News reports. Stockholders of record on Tuesday, March 11th will be paid a dividend of 0.074 per share on Tuesday, March 25th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.53%.

Ingram Micro Trading Down 7.8 %

NYSE:INGM traded down $1.65 during trading hours on Wednesday, hitting $19.33. The company’s stock had a trading volume of 43,017 shares, compared to its average volume of 407,860. Ingram Micro has a 52-week low of $18.90 and a 52-week high of $25.69. The company has a 50-day moving average price of $21.99. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40.

Ingram Micro (NYSE:INGM) last posted its earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $13.21 billion. As a group, sell-side analysts anticipate that Ingram Micro will post 2.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on INGM shares. Raymond James started coverage on shares of Ingram Micro in a research report on Monday, November 18th. They issued an “outperform” rating and a $28.00 price objective for the company. Morgan Stanley cut their price target on Ingram Micro from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday. BNP Paribas assumed coverage on Ingram Micro in a research report on Monday, November 18th. They issued a “neutral” rating and a $25.00 price objective for the company. Loop Capital started coverage on Ingram Micro in a research report on Monday, November 18th. They set a “buy” rating and a $30.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on Ingram Micro in a report on Monday, November 18th. They issued a “buy” rating and a $33.00 price target for the company. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.07.

Ingram Micro declared that its board has initiated a share buyback plan on Tuesday, March 4th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.