California State Teachers Retirement System Makes New Investment in Ingram Micro Holding Corp. (NYSE:INGM)

California State Teachers Retirement System purchased a new position in shares of Ingram Micro Holding Corp. (NYSE:INGM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,329 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors also recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new stake in shares of Ingram Micro during the 4th quarter worth approximately $52,000. JPMorgan Chase & Co. acquired a new stake in Ingram Micro during the 4th quarter worth $37,793,000. Rhumbline Advisers acquired a new stake in Ingram Micro during the 4th quarter worth $171,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Ingram Micro during the 4th quarter valued at about $17,432,000. Finally, Barclays PLC acquired a new position in shares of Ingram Micro during the 4th quarter valued at about $1,092,000.

Ingram Micro Stock Down 0.7%

Shares of INGM opened at $19.42 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.40. The company’s 50 day simple moving average is $18.37 and its 200-day simple moving average is $20.15. Ingram Micro Holding Corp. has a 12-month low of $14.25 and a 12-month high of $25.69.

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

Ingram Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were given a $0.076 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.57%. This is a positive change from Ingram Micro’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, May 20th.

Wall Street Analyst Weigh In

INGM has been the topic of several recent research reports. The Goldman Sachs Group lowered their price target on shares of Ingram Micro from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Jefferies Financial Group cut their price target on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Loop Capital cut their price target on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Bank of America cut their target price on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada increased their price target on shares of Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.71.

Ingram Micro 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.