Sumitomo Life Insurance Co. grew its stake in shares of Iron Mountain Inc (NYSE:IRM) by 3.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 33,993 shares of the financial services provider’s stock after buying an additional 1,074 shares during the period. Sumitomo Life Insurance Co.’s holdings in Iron Mountain were worth $1,064,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Iron Mountain by 0.7% during the 1st quarter. BlackRock Inc. now owns 20,271,523 shares of the financial services provider’s stock worth $718,826,000 after buying an additional 147,381 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Iron Mountain by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,127,799 shares of the financial services provider’s stock valued at $133,783,000 after acquiring an additional 45,950 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 valued at $126,683,000 after acquiring an additional 270,237 shares during the last quarter. Northern Trust Corp boosted its position in shares of Iron Mountain by 1.0% during the 1st quarter. Northern Trust Corp now owns 3,417,034 shares of the financial services provider’s stock valued at $121,169,000 after acquiring an additional 33,106 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of 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 valued at $56,389,000 after acquiring an additional 254,735 shares during the last quarter. 87.55% of the stock is owned by institutional investors and hedge funds.
IRM stock traded up $0.10 during midday trading on Thursday, reaching $30.96. The company’s stock had a trading volume of 578,929 shares, compared to its average volume of 3,486,806. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 6.06. The company’s fifty day moving average price is $30.90. Iron Mountain Inc has a 1 year low of $29.28 and a 1 year high of $37.32. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 4.29 and a beta of 0.59.
Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. On average, equities research analysts predict that Iron Mountain Inc will post 2.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Monday, September 16th will be issued a dividend of $0.611 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.90%. The ex-dividend date of this dividend is Friday, September 13th. Iron Mountain’s dividend payout ratio (DPR) is 106.09%.
A number of research firms have recently commented on IRM. Zacks Investment Research downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Robert W. Baird upgraded Iron Mountain from an “underperform” rating to a “neutral” rating and increased their price target for the company from $27.00 to $29.00 in a report on Friday, August 2nd. TheStreet lowered Iron Mountain from a “b-” rating to a “c+” rating in a report on Tuesday, May 14th. ValuEngine lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Wells Fargo & Co began coverage on Iron Mountain in a report on Wednesday, July 10th. They set an “outperform” rating and a $31.60 price target on the stock. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $33.96.
In related news, Director Walter C. Rakowich sold 2,024 shares of Iron Mountain stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $31.47, for a total transaction of $63,695.28. Following the completion of the transaction, the director now directly owns 23,360 shares in the company, valued at $735,139.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company 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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