Iron Mountain Incorporated (IRM) Position Reduced by Capital Guardian Trust Co.
Capital Guardian Trust Co. lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 58.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 626,441 shares of the financial services provider’s stock after selling 877,150 shares during the period. Capital Guardian Trust Co. owned 0.24% of Iron Mountain worth $21,525,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Creative Planning increased 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 acquiring an additional 134 shares during the period. Pacer Advisors Inc. boosted its holdings in Iron Mountain by 3.4% in the 1st quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 121 shares during the period. Soros Fund Management LLC bought a new position in Iron Mountain in the 1st quarter valued at $203,000. CIBC World Markets Inc. bought a new position in Iron Mountain in the 2nd quarter valued at $203,000. Finally, Penserra Capital Management LLC boosted its holdings in Iron Mountain by 7.5% in the 2nd quarter. Penserra Capital Management LLC now owns 6,019 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 422 shares during the period. 87.46% of the stock is owned by institutional investors.
A number of research analysts have recently commented on IRM shares. BidaskClub lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Deutsche Bank AG lowered Iron Mountain from a “hold” rating to a “sell” rating and dropped their price objective for the company from $41.00 to $30.00 in a research note on Wednesday, June 7th. Stifel Nicolaus reissued a “buy” rating and set a $40.00 price objective on shares of Iron Mountain in a research note on Sunday, September 3rd. Finally, Robert W. Baird set a $39.00 target price on Iron Mountain and gave the stock a “hold” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $36.50.
In other Iron Mountain news, EVP John Tomovcsik sold 21,037 shares of the business’s stock in a transaction that occurred on 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 directly owns 62,379 shares of the company’s stock, valued at $2,496,407.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 51,401 shares of company stock worth $1,997,617 over the last three months. 1.50% of the stock is currently owned by insiders.
Shares of Iron Mountain Incorporated (NYSE:IRM) traded up 0.46% during midday trading on Monday, reaching $39.08. 323,557 shares of the company were exchanged. Iron Mountain Incorporated has a 12-month low of $30.75 and a 12-month high of $40.64. The stock has a market capitalization of $10.33 billion, a P/E ratio of 53.61 and a beta of 0.91. The company has a 50 day moving average price of $38.47 and a 200-day moving average price of $35.80.
Iron Mountain (NYSE:IRM) last posted its earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $950.00 million during the quarter, compared to the consensus estimate of $955.05 million. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. On average, analysts forecast that Iron Mountain Incorporated will post $1.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a $0.55 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.20 annualized dividend and a yield of 5.66%. Iron Mountain’s dividend payout ratio is currently 297.30%.
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About Iron Mountain
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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