Trust Co. of Virginia VA boosted its stake in shares of Iron Mountain Inc (NYSE:IRM) by 1.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 177,456 shares of the financial services provider’s stock after purchasing an additional 2,718 shares during the period. Trust Co. of Virginia VA owned approximately 0.06% of Iron Mountain worth $5,554,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in IRM. Geode Capital Management LLC grew its position in 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 purchasing an additional 270,237 shares during the period. California Public Employees Retirement System grew its position in Iron Mountain by 19.1% during the 1st quarter. California Public Employees Retirement System now owns 1,590,207 shares of the financial services provider’s stock worth $56,389,000 after purchasing an additional 254,735 shares during the period. Duality Advisers LP acquired a new stake in Iron Mountain during the 1st quarter worth about $7,292,000. SG Americas Securities LLC acquired a new stake in Iron Mountain during the 2nd quarter worth about $6,143,000. Finally, First Republic Investment Management Inc. grew its position in Iron Mountain by 78.5% during the 1st quarter. First Republic Investment Management Inc. now owns 388,607 shares of the financial services provider’s stock worth $13,780,000 after purchasing an additional 170,889 shares during the period. 87.64% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. TheStreet lowered shares of Iron Mountain from a “b-” rating to a “c+” rating in a research note on Tuesday, May 14th. Wells Fargo & Co assumed coverage on shares of Iron Mountain in a research note on Wednesday, July 10th. They set an “outperform” rating and a $31.60 target price on the stock. Bank of America lowered shares of Iron Mountain from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $33.00 to $25.00 in a research note on Thursday, July 11th. Finally, ValuEngine lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $35.08.
Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Iron Mountain had a net margin of 8.18% and a return on equity of 19.65%. Iron Mountain’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. On average, analysts expect that Iron Mountain Inc will post 2.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Monday, September 16th will be issued a $0.611 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.44 dividend on an annualized basis and a yield of 7.69%. Iron Mountain’s payout ratio is 106.09%.
In other Iron Mountain news, Director Walter C. Rakowich sold 2,024 shares of the stock in a transaction dated Tuesday, May 28th. The shares were 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 owns 23,360 shares in the company, valued at approximately $735,139.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% 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 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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