Iron Mountain Inc. (IRM) Position Boosted by Henderson Group PLC
Henderson Group PLC raised its stake in shares of Iron Mountain Inc. (NYSE:IRM) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,224,211 shares of the company’s stock after buying an additional 43,703 shares during the period. Iron Mountain comprises about 0.7% of Henderson Group PLC’s portfolio, making the stock its 21st largest position. Henderson Group PLC owned approximately 1.05% of Iron Mountain worth $88,579,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Makaira Partners LLC acquired a new position in Iron Mountain during the first quarter valued at $104,016,000. Bank of Montreal Can purchased a new position in shares of Iron Mountain during the second quarter valued at $21,645,000. Uniplan Investment Counsel Inc. raised its position in shares of Iron Mountain by 31.7% in the first quarter. Uniplan Investment Counsel Inc. now owns 1,710,721 shares of the company’s stock valued at $49,045,000 after buying an additional 411,439 shares during the last quarter. Resolution Capital Ltd purchased a new position in shares of Iron Mountain during the second quarter valued at $15,807,000. Finally, ING Groep NV purchased a new position in shares of Iron Mountain during the second quarter valued at $12,078,000. 80.79% of the stock is currently owned by hedge funds and other institutional investors.
Iron Mountain Inc. (NYSE:IRM) traded down 0.79% during mid-day trading on Monday, hitting $34.12. The stock had a trading volume of 1,449,146 shares. The company has a market capitalization of $8.98 billion, a P/E ratio of 96.66 and a beta of 0.70. Iron Mountain Inc. has a 52 week low of $23.64 and a 52 week high of $41.50. The stock’s 50-day moving average is $36.72 and its 200 day moving average is $37.19.
Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Iron Mountain had a return on equity of 26.91% and a net margin of 2.51%. The company earned $883.70 million during the quarter, compared to the consensus estimate of $884.46 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. Equities analysts forecast that Iron Mountain Inc. will post $2.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 12th were given a $0.485 dividend. The ex-dividend date was Thursday, September 8th. This represents a $1.94 annualized dividend and a dividend yield of 5.69%. Iron Mountain’s dividend payout ratio is currently 510.54%.
IRM has been the topic of several research reports. Zacks Investment Research lowered Iron Mountain from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. TheStreet lowered Iron Mountain from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. upped their target price on Iron Mountain from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 target price on shares of Iron Mountain in a research report on Tuesday, September 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $44.50.
In other Iron Mountain news, VP Edward Bicks sold 2,773 shares of Iron Mountain stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.32, for a total transaction of $100,715.36. Following the transaction, the vice president now directly owns 914 shares in the company, valued at $33,196.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 1,466 shares of Iron Mountain stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.32, for a total value of $53,245.12. Following the transaction, the director now owns 7,130 shares in the company, valued at $258,961.60. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.
Iron Mountain Company Profile
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.
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