Iron Mountain Inc. (IRM) Stake Reduced by Meeder Asset Management Inc.
Meeder Asset Management Inc. lowered its stake in shares of Iron Mountain Inc. (NYSE:IRM) by 15.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 17,583 shares of the company’s stock after selling 3,279 shares during the period. Meeder Asset Management Inc.’s holdings in Iron Mountain were worth $700,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in IRM. Makaira Partners LLC bought a new stake in Iron Mountain during the first quarter valued at about $104,016,000. Norges Bank bought a new stake in Iron Mountain during the fourth quarter valued at about $37,703,000. Uniplan Investment Counsel Inc. boosted its stake in Iron Mountain by 31.7% in the first quarter. Uniplan Investment Counsel Inc. now owns 1,710,721 shares of the company’s stock valued at $49,045,000 after buying an additional 411,439 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Iron Mountain during the first quarter valued at about $3,731,000. Finally, British Columbia Investment Management Corp boosted its stake in Iron Mountain by 115.3% in the second quarter. British Columbia Investment Management Corp now owns 201,884 shares of the company’s stock valued at $8,041,000 after buying an additional 108,116 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.
Iron Mountain Inc. (NYSE:IRM) traded down 0.64% on Friday, reaching $35.82. 5,534,787 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $38.36 and a 200-day moving average price of $36.56. Iron Mountain Inc. has a 52 week low of $23.64 and a 52 week high of $41.50. The stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of 101.47 and a beta of 0.67.
Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Iron Mountain had a return on equity of 26.91% and a net margin of 2.51%. The company earned $883.70 million during the quarter, compared to analysts’ expectations of $884.46 million. During the same quarter in the prior year, the company posted $0.28 EPS. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, analysts predict that Iron Mountain Inc. will post $2.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 12th will be given a $0.485 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.94 annualized dividend and a yield of 5.42%. Iron Mountain’s dividend payout ratio is presently 510.54%.
Several equities research analysts have recently issued reports on IRM shares. Zacks Investment Research cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. TheStreet cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Piper Jaffray Cos. reiterated a “buy” rating and set a $44.00 price objective on shares of Iron Mountain in a research report on Friday, June 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $44.00 price objective on shares of Iron Mountain in a research report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $41.00.
In other Iron Mountain news, EVP Ernest W. Cloutier sold 134,462 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $39.93, for a total value of $5,369,067.66. Following the sale, the executive vice president now owns 38,622 shares in the company, valued at approximately $1,542,176.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Edward Bicks sold 2,773 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $36.32, for a total value of $100,715.36. Following the completion of the sale, the vice president now owns 914 shares in the company, valued at approximately $33,196.48. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.
About Iron Mountain
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.
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