BlackRock Inc. increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,134,540 shares of the financial services provider’s stock after buying an additional 258,708 shares during the period. BlackRock Inc. owned 8.01% of Iron Mountain worth $979,052,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Iron Mountain by 50.3% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 69,177 shares of the financial services provider’s stock worth $2,928,000 after buying an additional 23,158 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Iron Mountain by 22.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,065,224 shares of the financial services provider’s stock worth $39,423,000 after buying an additional 191,934 shares in the last quarter. PGGM Investments raised its stake in Iron Mountain by 12.5% in the second quarter. PGGM Investments now owns 382,308 shares of the financial services provider’s stock worth $16,179,000 after buying an additional 42,534 shares in the last quarter. Vancity Investment Management Ltd bought a new position in Iron Mountain in the second quarter worth about $8,342,000. Finally, Advisors Asset Management Inc. raised its stake in Iron Mountain by 8.4% in the second quarter. Advisors Asset Management Inc. now owns 67,753 shares of the financial services provider’s stock worth $2,867,000 after buying an additional 5,266 shares in the last quarter. 77.85% of the stock is owned by institutional investors.
In related news, EVP Deborah Marson sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $46.13, for a total transaction of $27,678.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Daniel Borges sold 1,860 shares of the firm’s stock in a transaction that occurred on Thursday, September 9th. The stock was sold at an average price of $48.20, for a total transaction of $89,652.00. Following the completion of the sale, the chief accounting officer now owns 1,860 shares in the company, valued at approximately $89,652. The disclosure for this sale can be found here. Insiders have sold 32,097 shares of company stock valued at $1,558,413 in the last three months. 2.10% of the stock is owned by insiders.
Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 5th. The financial services provider reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.26). Iron Mountain had a net margin of 14.11% and a return on equity of 51.54%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $0.22 EPS. Iron Mountain’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, analysts forecast that Iron Mountain Incorporated will post 2.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 6th. Investors of record on Wednesday, September 15th will be given a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a dividend yield of 5.58%. The ex-dividend date is Tuesday, September 14th. Iron Mountain’s dividend payout ratio (DPR) is currently 80.46%.
Separately, Zacks Investment Research raised shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Tuesday, August 10th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $36.75.
Iron Mountain Company Profile
Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.
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