Alliancebernstein L.P. grew its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 506,071 shares of the financial services provider’s stock after purchasing an additional 4,247 shares during the quarter. Alliancebernstein L.P. owned approximately 0.18% of Iron Mountain worth $17,470,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. increased its stake in Iron Mountain by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 431,673 shares of the financial services provider’s stock valued at $14,185,000 after purchasing an additional 6,112 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in Iron Mountain during the 2nd quarter valued at $578,000. Piedmont Investment Advisors LLC bought a new stake in Iron Mountain during the 2nd quarter valued at $115,000. Raymond James Financial Services Advisors Inc. bought a new stake in Iron Mountain during the 2nd quarter valued at $988,000. Finally, Commonwealth Equity Services LLC increased its stake in Iron Mountain by 18.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 56,821 shares of the financial services provider’s stock valued at $1,989,000 after purchasing an additional 8,848 shares in the last quarter. 88.17% of the stock is currently owned by institutional investors.

Shares of IRM stock opened at $33.92 on Thursday. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77. The company has a debt-to-equity ratio of 4.18, a current ratio of 0.97 and a quick ratio of 0.97. Iron Mountain Inc has a 12 month low of $30.22 and a 12 month high of $40.75.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, October 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Iron Mountain had a net margin of 5.49% and a return on equity of 14.71%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Analysts forecast that Iron Mountain Inc will post 2.13 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Monday, December 17th will be paid a $0.611 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, December 14th. This represents a $2.44 annualized dividend and a dividend yield of 7.21%. Iron Mountain’s dividend payout ratio is presently 110.33%.

A number of analysts have commented on IRM shares. Stifel Nicolaus lowered shares of Iron Mountain from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $34.00 in a research note on Friday, October 26th. Barclays decreased their price target on shares of Iron Mountain from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 30th. Zacks Investment Research upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, November 19th. Bank of America started coverage on shares of Iron Mountain in a research note on Tuesday, November 20th. They set a “neutral” rating and a $34.00 price target for the company. Finally, Berenberg Bank started coverage on shares of Iron Mountain in a research note on Thursday, September 20th. They set a “buy” rating and a $52.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $37.00.

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Iron Mountain Company Profile

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 over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

Further Reading: Analyst Ratings

Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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