Iron Mountain Inc. (IRM) Position Maintained by Portland Global Advisors LLC
Portland Global Advisors LLC continued to hold its position in shares of Iron Mountain Inc. (NYSE:IRM) during the second quarter, Holdings Channel reports. The institutional investor owned 24,888 shares of the company’s stock at the end of the second quarter. Portland Global Advisors LLC’s holdings in Iron Mountain were worth $991,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Iron Mountain by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,484,335 shares of the company’s stock worth $219,884,000 after buying an additional 39,022 shares during the period. Makaira Partners LLC acquired a new stake in shares of Iron Mountain during the first quarter worth $104,016,000. Uniplan Investment Counsel Inc. boosted its stake in shares of Iron Mountain by 31.7% in the first quarter. Uniplan Investment Counsel Inc. now owns 1,710,721 shares of the company’s stock worth $49,045,000 after buying an additional 411,439 shares during the period. Geode Capital Management LLC boosted 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 worth $54,584,000 after buying an additional 37,165 shares during the period. Finally, BlackRock Group LTD boosted its stake in shares of Iron Mountain by 3.1% in the first quarter. BlackRock Group LTD now owns 1,444,426 shares of the company’s stock worth $48,981,000 after buying an additional 43,560 shares during the period. Institutional investors own 80.96% of the company’s stock.
Iron Mountain Inc. (NYSE:IRM) traded up 1.35% during midday trading on Thursday, hitting $37.42. 1,227,048 shares of the stock were exchanged. The company has a market cap of $9.85 billion, a PE ratio of 106.01 and a beta of 0.67. The firm’s 50 day moving average price is $37.54 and its 200 day moving average price is $36.79. Iron Mountain Inc. has a 12 month low of $23.64 and a 12 month high of $41.50.
Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The firm earned $883.70 million during the quarter, compared to the consensus estimate of $884.46 million. Iron Mountain had a return on equity of 26.91% and a net margin of 2.51%. Iron Mountain’s revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. On average, equities research analysts forecast that Iron Mountain Inc. will post $2.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 12th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.94 dividend on an annualized basis and a yield of 5.18%. Iron Mountain’s payout ratio is 510.54%.
IRM has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Tuesday, June 21st. Piper Jaffray Cos. restated a “buy” rating and issued a $44.00 price objective on shares of Iron Mountain in a report on Friday, June 17th. Stifel Nicolaus restated a “buy” rating and issued a $44.00 price objective on shares of Iron Mountain in a report on Tuesday, September 13th. TheStreet cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Iron Mountain currently has an average rating of “Hold” and an average target price of $41.00.
In related news, EVP Ernest W. Cloutier sold 134,462 shares of Iron Mountain stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $39.93, for a total transaction of $5,369,067.66. Following the completion of the sale, the executive vice president now owns 38,622 shares in the company, valued at approximately $1,542,176.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Edward Bicks sold 1,459 shares of Iron Mountain stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $40.25, for a total transaction of $58,724.75. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
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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