Pinebridge Investments L.P. lowered its stake in Iron Mountain Inc (NYSE:IRM) by 69.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,650 shares of the financial services provider’s stock after selling 8,351 shares during the period. Pinebridge Investments L.P.’s holdings in Iron Mountain were worth $128,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Iron Mountain by 2.1% in the first quarter. BlackRock Inc. now owns 20,439,966 shares of the financial services provider’s stock valued at $671,656,000 after purchasing an additional 423,622 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Iron Mountain by 4.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 439,440 shares of the financial services provider’s stock valued at $15,385,000 after purchasing an additional 17,972 shares during the period. Marble Harbor Investment Counsel LLC increased its holdings in shares of Iron Mountain by 4.5% in the second quarter. Marble Harbor Investment Counsel LLC now owns 364,609 shares of the financial services provider’s stock valued at $12,765,000 after purchasing an additional 15,643 shares during the period. Swiss National Bank increased its holdings in shares of Iron Mountain by 4.3% in the second quarter. Swiss National Bank now owns 894,564 shares of the financial services provider’s stock valued at $31,319,000 after purchasing an additional 36,800 shares during the period. Finally, Sun Life Financial INC increased its holdings in shares of Iron Mountain by 2,964.1% in the second quarter. Sun Life Financial INC now owns 64,868 shares of the financial services provider’s stock valued at $2,271,000 after purchasing an additional 62,751 shares during the period. 86.00% of the stock is currently owned by institutional investors and hedge funds.
Iron Mountain stock opened at $36.27 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 3.87. Iron Mountain Inc has a 1-year low of $30.78 and a 1-year high of $41.53. The company has a market capitalization of $10.46 billion, a P/E ratio of 17.16 and a beta of 0.62.
Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. Iron Mountain had a return on equity of 14.82% and a net margin of 4.56%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. equities analysts anticipate that Iron Mountain Inc will post 2.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Monday, September 17th will be paid 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 6.48%. Iron Mountain’s dividend payout ratio (DPR) is presently 110.33%.
IRM has been the topic of a number of recent research reports. ValuEngine lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Thursday, May 17th. TheStreet upgraded Iron Mountain from a “c+” rating to a “b-” rating in a research note on Wednesday, June 20th. Zacks Investment Research downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Barclays assumed coverage on Iron Mountain in a research note on Wednesday, July 18th. They issued an “equal weight” rating and a $39.00 price target on the stock. Finally, Credit Suisse Group assumed coverage on Iron Mountain in a research note on Friday, August 10th. They issued an “underperform” rating and a $25.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Iron Mountain currently has an average rating of “Hold” and a consensus target price of $38.57.
In other Iron Mountain news, Director Walter C. Rakowich sold 1,765 shares of the business’s stock in a transaction on Tuesday, July 3rd. The stock was sold at an average price of $34.95, for a total transaction of $61,686.75. Following the sale, the director now directly owns 20,324 shares in the company, valued at $710,323.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stuart B. Brown sold 1,750 shares of the business’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $35.38, for a total value of $61,915.00. Following the sale, the chief financial officer now owns 7,661 shares in the company, valued at $271,046.18. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
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.
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