Ameriprise Financial Inc. boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 14.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,017 shares of the financial services provider’s stock after buying an additional 22,227 shares during the period. Ameriprise Financial Inc.’s holdings in Iron Mountain were worth $6,180,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its stake in shares of Iron Mountain by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 113,536 shares of the financial services provider’s stock valued at $4,050,000 after buying an additional 1,400 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Iron Mountain by 12.9% in the first quarter. LS Investment Advisors LLC now owns 10,085 shares of the financial services provider’s stock valued at $360,000 after buying an additional 1,156 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Iron Mountain by 265.1% in the fourth quarter. Macquarie Group Ltd. now owns 160,738 shares of the financial services provider’s stock valued at $5,220,000 after buying an additional 116,715 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of Iron Mountain by 5.0% in the first quarter. Glen Harbor Capital Management LLC now owns 16,368 shares of the financial services provider’s stock valued at $584,000 after buying an additional 784 shares in the last quarter. Finally, DnB Asset Management AS increased its stake in shares of Iron Mountain by 27.3% in the first quarter. DnB Asset Management AS now owns 20,042 shares of the financial services provider’s stock valued at $715,000 after buying an additional 4,300 shares in the last quarter. Hedge funds and other institutional investors own 87.30% of the company’s stock.
Iron Mountain Incorporated (NYSE IRM) opened at 34.75 on Tuesday. The firm’s 50-day moving average is $34.73 and its 200 day moving average is $34.93. Iron Mountain Incorporated has a 1-year low of $30.75 and a 1-year high of $41.50. The firm has a market cap of $9.18 billion, a PE ratio of 91.45 and a beta of 1.01.
Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, April 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.03. Iron Mountain had a net margin of 2.75% and a return on equity of 12.74%. The business had revenue of $939 million during the quarter, compared to the consensus estimate of $928.62 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The business’s revenue was up 25.0% on a year-over-year basis. On average, equities analysts forecast that Iron Mountain Incorporated will post $1.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date is Tuesday, June 13th. Iron Mountain’s payout ratio is 578.96%.
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Several analysts recently weighed in on IRM shares. Zacks Investment Research downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price objective on shares of Iron Mountain in a research report on Friday, June 9th. BidaskClub downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Finally, Deutsche Bank AG downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating and cut their price objective for the company from $41.00 to $30.00 in a research report on Wednesday, June 7th. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $38.75.
In other news, SVP Eileen Sweeney sold 2,100 shares of Iron Mountain stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $35.14, for a total transaction of $73,794.00. Following the sale, the senior vice president now directly owns 2,104 shares of the company’s stock, valued at $73,934.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter C. Rakowich sold 1,552 shares of Iron Mountain stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $35.15, for a total value of $54,552.80. Following the sale, the director now directly owns 15,074 shares in the company, valued at $529,851.10. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
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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