Orinda Asset Management LLC purchased a new stake in Iron Mountain Inc (NYSE:IRM) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 138,042 shares of the financial services provider’s stock, valued at approximately $4,321,000. Iron Mountain comprises about 5.8% of Orinda Asset Management LLC’s portfolio, making the stock its 6th largest holding.
Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Iron Mountain by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,127,799 shares of the financial services provider’s stock worth $133,783,000 after purchasing an additional 45,950 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Iron Mountain by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 3,915,200 shares of the financial services provider’s stock worth $126,683,000 after acquiring an additional 270,237 shares during the last quarter. FMR LLC increased its holdings in shares of Iron Mountain by 203.3% during the 4th quarter. FMR LLC now owns 157,666 shares of the financial services provider’s stock worth $5,110,000 after acquiring an additional 105,690 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of Iron Mountain by 157.4% during the 1st quarter. Virtu Financial LLC now owns 20,485 shares of the financial services provider’s stock worth $726,000 after acquiring an additional 12,528 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Iron Mountain by 1.0% during the 1st quarter. Retirement Systems of Alabama now owns 146,424 shares of the financial services provider’s stock worth $5,192,000 after acquiring an additional 1,387 shares during the last quarter. 87.29% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the company. TheStreet lowered Iron Mountain from a “b-” rating to a “c+” rating in a report on Tuesday, May 14th. ValuEngine lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Robert W. Baird raised Iron Mountain from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $27.00 to $29.00 in a report on Friday, August 2nd. Wells Fargo & Co assumed coverage on Iron Mountain in a report on Wednesday, July 10th. They set an “outperform” rating and a $31.60 target price on the stock. Finally, Bank of America lowered Iron Mountain from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $33.00 to $25.00 in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Iron Mountain presently has a consensus rating of “Hold” and an average target price of $35.08.
In related news, Director Walter C. Rakowich sold 2,024 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $31.47, for a total value of $63,695.28. Following the completion of the sale, the director now directly owns 23,360 shares in the company, valued at approximately $735,139.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.
Shares of IRM stock traded up $0.60 during trading on Friday, reaching $31.59. 924,111 shares of the company’s stock were exchanged, compared to its average volume of 2,806,546. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 6.06. The stock has a market capitalization of $8.89 billion, a PE ratio of 13.73, a PEG ratio of 3.63 and a beta of 0.59. Iron Mountain Inc has a twelve month low of $29.28 and a twelve month high of $37.32. The firm’s fifty day moving average price is $30.74 and its 200-day moving average price is $33.13.
Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. As a group, analysts anticipate that Iron Mountain Inc will post 2.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Monday, September 16th will be paid a $0.611 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.44 annualized dividend and a yield of 7.74%. Iron Mountain’s dividend payout ratio (DPR) is presently 106.09%.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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