Iron Mountain Incorporated (IRM) Holdings Cut by Epoch Investment Partners Inc.
Epoch Investment Partners Inc. lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,202,929 shares of the financial services provider’s stock after selling 20,425 shares during the period. Epoch Investment Partners Inc. owned about 2.35% of Iron Mountain worth $213,132,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Planning raised its holdings in Iron Mountain by 4.6% during the 2nd quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock worth $105,000 after buying an additional 134 shares during the period. Pacer Advisors Inc. raised its holdings in Iron Mountain by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock worth $131,000 after buying an additional 121 shares during the period. Soros Fund Management LLC acquired a new stake in Iron Mountain during the 1st quarter worth about $203,000. CIBC World Markets Inc. acquired a new stake in Iron Mountain during the 2nd quarter worth about $203,000. Finally, Penserra Capital Management LLC raised its holdings in Iron Mountain by 7.5% during the 2nd quarter. Penserra Capital Management LLC now owns 6,019 shares of the financial services provider’s stock worth $206,000 after buying an additional 422 shares during the period. Hedge funds and other institutional investors own 87.46% of the company’s stock.
In other news, EVP John Tomovcsik sold 21,037 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $40.02, for a total transaction of $841,900.74. Following the sale, the executive vice president now owns 62,379 shares of the company’s stock, valued at $2,496,407.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 50,888 shares of company stock worth $1,976,840. 1.50% of the stock is currently owned by insiders.
Iron Mountain (NYSE:IRM) last released its quarterly 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. The company had revenue of $950.00 million for the quarter, compared to analyst estimates of $955.05 million. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. Iron Mountain’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend is Thursday, September 14th. Iron Mountain’s dividend payout ratio is currently 297.30%.
A number of brokerages have recently weighed in on IRM. BidaskClub downgraded Iron Mountain from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Deutsche Bank AG downgraded Iron Mountain from a “hold” rating to a “sell” rating and dropped their target price for the company from $41.00 to $30.00 in a report on Wednesday, June 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a report on Sunday, September 3rd. Finally, Robert W. Baird set a $39.00 target price on Iron Mountain and gave the company a “hold” rating in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $36.50.
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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