Iron Mountain Inc. (IRM) Stake Raised by Princeton Capital Management Inc.
Princeton Capital Management Inc. increased its stake in Iron Mountain Inc. (NYSE:IRM) by 43.2% during the second quarter, Holdings Channel reports. The firm owned 8,997 shares of the company’s stock after buying an additional 2,715 shares during the period. Princeton Capital Management Inc.’s holdings in Iron Mountain were worth $358,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Iron Mountain by 2.4% in the first quarter. Geode Capital Management LLC now owns 1,612,917 shares of the company’s stock valued at $54,584,000 after buying an additional 37,165 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in Iron Mountain by 25.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 204,179 shares of the company’s stock valued at $8,133,000 after buying an additional 41,775 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Iron Mountain during the first quarter valued at about $234,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Iron Mountain during the first quarter valued at about $3,731,000. Finally, Makaira Partners LLC acquired a new stake in Iron Mountain during the first quarter valued at about $104,016,000. 80.96% of the stock is owned by institutional investors.
Shares of Iron Mountain Inc. (NYSE:IRM) traded up 0.30% during trading on Tuesday, reaching $36.60. The company’s stock had a trading volume of 1,387,127 shares. The stock’s 50 day moving average is $37.64 and its 200 day moving average is $36.79. Iron Mountain Inc. has a one year low of $23.64 and a one year high of $41.50. The firm has a market cap of $9.63 billion, a P/E ratio of 103.68 and a beta of 0.67.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Iron Mountain had a net margin of 2.51% and a return on equity of 26.91%. The company earned $883.70 million during the quarter, compared to the consensus estimate of $884.46 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, equities analysts forecast that Iron Mountain Inc. will post $2.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 12th will be given a $0.485 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.94 annualized dividend and a yield of 5.30%. Iron Mountain’s payout ratio is currently 510.54%.
Several analysts recently issued reports on IRM shares. Stifel Nicolaus reissued a “buy” rating and issued a $44.00 price target on shares of Iron Mountain in a research report on Tuesday, September 13th. Zacks Investment Research raised shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Tuesday, June 21st. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. TheStreet downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Finally, Piper Jaffray Cos. reissued a “buy” rating and issued a $44.00 price target on shares of Iron Mountain in a research report on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $41.00.
In related news, VP Edward Bicks sold 1,459 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $40.25, for a total transaction of $58,724.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Walter C. Rakowich sold 1,466 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.32, for a total value of $53,245.12. Following the transaction, the director now owns 7,130 shares of the company’s stock, valued at approximately $258,961.60. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.
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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