Iron Mountain Inc (IRM) Position Trimmed by Rhumbline Advisers
Rhumbline Advisers decreased its position in shares of Iron Mountain Inc (NYSE:IRM) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 520,509 shares of the financial services provider’s stock after selling 39,340 shares during the quarter. Rhumbline Advisers’ holdings in Iron Mountain were worth $18,223,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of IRM. Centersquare Investment Management LLC bought a new stake in Iron Mountain during the first quarter worth about $136,962,000. JPMorgan Chase & Co. lifted its position in Iron Mountain by 123.0% during the first quarter. JPMorgan Chase & Co. now owns 6,708,592 shares of the financial services provider’s stock worth $220,444,000 after purchasing an additional 3,700,599 shares during the period. Hexavest Inc. bought a new stake in Iron Mountain during the second quarter worth about $33,871,000. Millennium Management LLC bought a new stake in Iron Mountain during the first quarter worth about $21,996,000. Finally, Thompson Siegel & Walmsley LLC lifted its position in Iron Mountain by 73.5% during the first quarter. Thompson Siegel & Walmsley LLC now owns 1,468,946 shares of the financial services provider’s stock worth $48,269,000 after purchasing an additional 622,287 shares during the period. 87.09% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on IRM shares. Zacks Investment Research raised shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Tuesday, April 24th. ValuEngine cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. TheStreet raised shares of Iron Mountain from a “c+” rating to a “b-” rating in a research report on Wednesday, June 20th. Barclays started coverage on shares of Iron Mountain in a research report on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 price objective for the company. Finally, Credit Suisse Group started coverage on shares of Iron Mountain in a research report on Friday, August 10th. They set an “underperform” rating and a $25.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Iron Mountain presently has an average rating of “Hold” and a consensus target price of $38.57.
Iron Mountain (NYSE:IRM) last posted its earnings results on Friday, July 27th. The financial services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Iron Mountain had a net margin of 4.56% and a return on equity of 14.82%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. analysts anticipate that Iron Mountain Inc will post 2.11 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th will be issued a $0.5875 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.44%. Iron Mountain’s dividend payout ratio (DPR) is currently 110.33%.
In other news, Director Walter C. Rakowich sold 1,765 shares of the stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $34.95, for a total value of $61,686.75. Following the completion of the transaction, the director now owns 20,324 shares of the company’s stock, valued at $710,323.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stuart B. Brown sold 1,750 shares of the stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $35.38, for a total transaction of $61,915.00. Following the completion of the transaction, the chief financial officer now directly owns 7,661 shares of the company’s stock, valued at approximately $271,046.18. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
Iron Mountain 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.
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