Ingalls & Snyder LLC decreased its stake in Iron Mountain Inc (NYSE:IRM) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,905 shares of the financial services provider’s stock after selling 7,039 shares during the quarter. Ingalls & Snyder LLC’s holdings in Iron Mountain were worth $2,260,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in Iron Mountain by 51.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 47,557 shares of the financial services provider’s stock valued at $1,478,000 after purchasing an additional 16,162 shares during the last quarter. MML Investors Services LLC raised its position in Iron Mountain by 3.9% in the 2nd quarter. MML Investors Services LLC now owns 35,610 shares of the financial services provider’s stock valued at $1,115,000 after purchasing an additional 1,349 shares during the last quarter. Bank of Nova Scotia raised its position in Iron Mountain by 9.5% in the 2nd quarter. Bank of Nova Scotia now owns 59,923 shares of the financial services provider’s stock valued at $1,875,000 after purchasing an additional 5,203 shares during the last quarter. Profund Advisors LLC raised its position in Iron Mountain by 20.7% in the 2nd quarter. Profund Advisors LLC now owns 23,040 shares of the financial services provider’s stock valued at $721,000 after purchasing an additional 3,951 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Iron Mountain by 104.9% in the 2nd quarter. HighTower Advisors LLC now owns 142,634 shares of the financial services provider’s stock valued at $4,447,000 after purchasing an additional 73,030 shares during the last quarter. 83.25% of the stock is currently owned by institutional investors and hedge funds.
IRM stock opened at $30.79 on Thursday. The company has a market cap of $8.79 billion, a P/E ratio of 13.39, a PEG ratio of 2.81 and a beta of 0.51. Iron Mountain Inc has a twelve month low of $29.28 and a twelve month high of $37.32. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 6.51. The business has a fifty day moving average of $31.70 and a 200-day moving average of $31.96.
Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, October 31st. The financial services provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.27). The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. Iron Mountain had a return on equity of 21.57% and a net margin of 9.14%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. As a group, equities research analysts anticipate that Iron Mountain Inc will post 2.28 earnings per share for the current fiscal year.
The company also recently announced a dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were given a dividend of $0.6185 per share. The ex-dividend date was Friday, December 13th. Iron Mountain’s payout ratio is currently 107.39%.
In other news, Director Jennifer Allerton sold 5,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $32.96, for a total transaction of $164,800.00. Following the completion of the sale, the director now owns 18,484 shares in the company, valued at $609,232.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.
Several equities analysts have issued reports on IRM shares. Credit Suisse Group cut their price objective on Iron Mountain from $21.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, November 26th. ValuEngine upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Finally, Barclays set a $39.00 price objective on Iron Mountain and gave the company a “hold” rating in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $29.93.
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 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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