Ingram Micro Inc. (IM) Stake Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in Ingram Micro Inc. (NYSE:IM) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 971,483 shares of the company’s stock after selling 64,702 shares during the period. Principal Financial Group Inc. owned about 0.65% of Ingram Micro worth $33,789,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Ingram Micro during the fourth quarter valued at about $49,239,000. Boston Advisors LLC boosted its stake in Ingram Micro by 70.0% in the first quarter. Boston Advisors LLC now owns 52,994 shares of the company’s stock valued at $1,903,000 after buying an additional 21,823 shares during the period. Glenmede Trust Co. NA boosted its stake in Ingram Micro by 1,196.2% in the first quarter. Glenmede Trust Co. NA now owns 16,890 shares of the company’s stock valued at $606,000 after buying an additional 15,587 shares during the period. Bowling Portfolio Management LLC boosted its stake in Ingram Micro by 2,557.3% in the first quarter. Bowling Portfolio Management LLC now owns 185,636 shares of the company’s stock valued at $6,666,000 after buying an additional 178,650 shares during the period. Finally, CQS Cayman LP purchased a new stake in Ingram Micro during the first quarter valued at about $503,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Shares of Ingram Micro Inc. (NYSE:IM) traded up 0.29% during midday trading on Thursday, hitting $34.99. 89,570 shares of the stock were exchanged. The company has a market cap of $5.24 billion, a PE ratio of 20.46 and a beta of 0.87. Ingram Micro Inc. has a 12-month low of $25.76 and a 12-month high of $36.66. The firm has a 50-day moving average price of $34.70 and a 200-day moving average price of $34.96.

Ingram Micro (NYSE:IM) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.12. The business earned $10.10 billion during the quarter, compared to analyst estimates of $9.67 billion. Ingram Micro had a net margin of 0.64% and a return on equity of 10.03%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. On average, equities analysts predict that Ingram Micro Inc. will post $2.62 EPS for the current year.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Ingram Micro from a “sell” rating to a “hold” rating in a research report on Monday, July 4th. Jefferies Group reissued a “hold” rating on shares of Ingram Micro in a research report on Thursday, September 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $35.75.

Ingram Micro Company Profile

Ingram Micro Inc (Ingram Micro) is engaged in the distribution of information technology (IT) products, supply chain services and mobile device lifecycle services around the world. The Company distributes and markets technology products all over the world from the industry’s computer hardware suppliers, mobility hardware suppliers, software publishers, consumer electronics (CE), automatic identification and data capture (AIDC)/point-of-sale (POS), and physical security products.

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