Tyers Asset Management LLC increased its stake in shares of Iron Mountain Inc (NYSE:IRM) by 14.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,342 shares of the financial services provider’s stock after acquiring an additional 4,224 shares during the quarter. Tyers Asset Management LLC’s holdings in Iron Mountain were worth $1,075,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Iron Mountain by 0.7% during the 1st quarter. BlackRock Inc. now owns 20,271,523 shares of the financial services provider’s stock worth $718,826,000 after purchasing an additional 147,381 shares during the period. Geode Capital Management LLC increased its stake in Iron Mountain by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 3,915,200 shares of the financial services provider’s stock valued at $126,683,000 after acquiring an additional 270,237 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Iron Mountain by 34.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,906,191 shares of the financial services provider’s stock worth $120,624,000 after acquiring an additional 990,959 shares during the period. Northern Trust Corp lifted its position in Iron Mountain by 8.4% in the second quarter. Northern Trust Corp now owns 3,704,831 shares of the financial services provider’s stock worth $115,962,000 after purchasing an additional 287,797 shares during the period. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Iron Mountain by 9.6% during the 2nd quarter. Centersquare Investment Management LLC now owns 3,561,759 shares of the financial services provider’s stock worth $111,483,000 after acquiring an additional 311,030 shares during the period. Hedge funds and other institutional investors own 85.93% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Wells Fargo & Co started coverage on Iron Mountain in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $31.60 price objective on the stock. ValuEngine upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Thursday, September 5th. Bank of America cut Iron Mountain from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $33.00 to $25.00 in a report on Thursday, July 11th. TheStreet upgraded Iron Mountain from a “c+” rating to a “b-” rating in a research report on Monday. Finally, Robert W. Baird upgraded shares of Iron Mountain from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $27.00 to $29.00 in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Iron Mountain presently has an average rating of “Hold” and an average price target of $35.08.
NYSE:IRM traded up $0.37 on Wednesday, hitting $33.90. 1,925,621 shares of the stock were exchanged, compared to its average volume of 1,800,308. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 3.88 and a beta of 0.54. Iron Mountain Inc has a 52 week low of $29.28 and a 52 week high of $37.32. The company has a debt-to-equity ratio of 6.06, a quick ratio of 0.75 and a current ratio of 0.75. The company’s 50-day moving average price is $31.35 and its 200 day moving average price is $32.66.
Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Iron Mountain had a net margin of 8.18% and a return on equity of 19.65%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts predict that Iron Mountain Inc will post 2.26 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Monday, September 16th will be issued a $0.611 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.44 annualized dividend and a yield of 7.21%. Iron Mountain’s dividend payout ratio is currently 106.09%.
About Iron Mountain
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.
Featured Article: Recession
Receive News & Ratings for Iron Mountain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iron Mountain and related companies with MarketBeat.com's FREE daily email newsletter.