Iron Mountain Inc. (IRM) Position Lowered by Beck Mack & Oliver LLC
Beck Mack & Oliver LLC cut its stake in shares of Iron Mountain Inc. (NYSE:IRM) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 16,605 shares of the company’s stock after selling 51 shares during the period. Beck Mack & Oliver LLC’s holdings in Iron Mountain were worth $661,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in IRM. JNBA Financial Advisors raised its position in Iron Mountain by 421.2% in the second quarter. JNBA Financial Advisors now owns 2,653 shares of the company’s stock valued at $106,000 after buying an additional 2,144 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Iron Mountain by 11.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,555 shares of the company’s stock valued at $142,000 after buying an additional 351 shares during the period. Breton Hill Capital Ltd. bought a new position in Iron Mountain during the second quarter valued at approximately $207,000. Franklin Resources Inc. bought a new position in Iron Mountain during the first quarter valued at approximately $234,000. Finally, NN Investment Partners Holdings N.V. bought a new position in Iron Mountain during the first quarter valued at approximately $257,000. 80.79% of the stock is owned by hedge funds and other institutional investors.
Shares of Iron Mountain Inc. (NYSE:IRM) traded down 0.15% during trading on Monday, hitting $34.34. The stock had a trading volume of 931,186 shares. Iron Mountain Inc. has a one year low of $23.64 and a one year high of $41.50. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of 97.28 and a beta of 0.70. The stock’s 50-day moving average price is $36.72 and its 200 day moving average price is $37.19.
Iron Mountain (NYSE:IRM) last released its earnings results 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 business posted $0.28 EPS. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. On average, equities analysts forecast that Iron Mountain Inc. will post $2.16 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 12th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend was Thursday, September 8th. Iron Mountain’s payout ratio is presently 510.54%.
Several equities analysts have recently commented on IRM shares. Zacks Investment Research lowered Iron Mountain from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. TheStreet lowered Iron Mountain from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. JPMorgan Chase & Co. upped their target price on Iron Mountain from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 target price on shares of Iron Mountain in a report on Tuesday, September 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $44.50.
In related news, VP Edward Bicks sold 2,773 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $36.32, for a total value of $100,715.36. Following the completion of the sale, the vice president now owns 914 shares in the company, valued at $33,196.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Walter C. Rakowich sold 1,466 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $36.32, for a total transaction of $53,245.12. Following the completion of the sale, 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 currently owned by corporate insiders.
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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