Schwab Charles Investment Management Inc. Raises Holdings in Iron Mountain Incorporated (IRM)
Schwab Charles Investment Management Inc. raised its position in Iron Mountain Incorporated (NYSE:IRM) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,188,184 shares of the financial services provider’s stock after buying an additional 43,250 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.45% of Iron Mountain worth $40,827,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning raised its stake in shares of Iron Mountain by 4.6% in the second quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock valued at $105,000 after buying an additional 134 shares during the period. Pacer Advisors Inc. raised its stake in shares of Iron Mountain by 3.4% in the first quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock valued at $131,000 after buying an additional 121 shares during the period. Soros Fund Management LLC bought a new stake in shares of Iron Mountain in the first quarter valued at $203,000. Ameritas Investment Partners Inc. bought a new stake in shares of Iron Mountain in the first quarter valued at $209,000. Finally, Cleararc Capital Inc. bought a new stake in shares of Iron Mountain in the first quarter valued at $214,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.
In related news, EVP John Tomovcsik sold 29,450 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $38.00, for a total value of $1,119,100.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by company insiders.
Iron Mountain Incorporated (NYSE:IRM) opened at 40.04 on Monday. Iron Mountain Incorporated has a 12 month low of $30.75 and a 12 month high of $40.23. The stock has a 50 day moving average price of $37.56 and a 200 day moving average price of $35.66. The stock has a market capitalization of $10.59 billion, a PE ratio of 54.92 and a beta of 0.92.
Iron Mountain (NYSE:IRM) last announced its earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The company had revenue of $950 million for the quarter, compared to analysts’ expectations of $955.05 million. During the same period last year, the firm earned $0.24 EPS. Iron Mountain’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts forecast that Iron Mountain Incorporated will post $1.18 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.55 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.20 dividend on an annualized basis and a yield of 5.49%. Iron Mountain’s dividend payout ratio is currently 297.30%.
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Several analysts have issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a research note on Sunday, September 3rd. Zacks Investment Research upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded Iron Mountain from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Robert W. Baird set a $39.00 target price on Iron Mountain and gave the company a “hold” rating in a research note on Friday, August 25th. Finally, Deutsche Bank AG lowered Iron Mountain from a “hold” rating to a “sell” rating and lowered their target price for the company from $41.00 to $30.00 in a research note on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.50.
Iron Mountain 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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