Iron Mountain Incorporated (IRM) Shares Bought by Sun Life Financial INC
Sun Life Financial INC boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 75.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,309 shares of the financial services provider’s stock after acquiring an additional 8,302 shares during the quarter. Sun Life Financial INC’s holdings in Iron Mountain were worth $751,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in IRM. Vanguard Group Inc. grew its holdings in Iron Mountain by 0.3% in the second quarter. Vanguard Group Inc. now owns 43,398,710 shares of the financial services provider’s stock valued at $1,491,180,000 after purchasing an additional 151,039 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Iron Mountain by 5.0% during the second quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock valued at $650,244,000 after acquiring an additional 896,751 shares during the last quarter. Parnassus Investments CA boosted its stake in shares of Iron Mountain by 1.0% during the third quarter. Parnassus Investments CA now owns 12,497,627 shares of the financial services provider’s stock valued at $486,158,000 after acquiring an additional 122,980 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Iron Mountain by 25.2% during the third quarter. Bank of New York Mellon Corp now owns 3,579,236 shares of the financial services provider’s stock valued at $139,231,000 after acquiring an additional 720,270 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Iron Mountain by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,530,435 shares of the financial services provider’s stock valued at $121,305,000 after acquiring an additional 124,704 shares during the last quarter. Hedge funds and other institutional investors own 88.84% of the company’s stock.
In other news, EVP John Tomovcsik sold 21,037 shares of Iron Mountain stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $40.02, for a total value of $841,900.74. Following the completion of the transaction, the executive vice president now owns 62,379 shares in the company, valued at approximately $2,496,407.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Patrick J. Keddy sold 23,428 shares of Iron Mountain stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $39.04, for a total value of $914,629.12. The disclosure for this sale can be found here. Insiders have sold a total of 51,758 shares of company stock worth $2,050,846 over the last 90 days. 1.50% of the stock is owned by company insiders.
A number of analysts recently commented on IRM shares. BidaskClub raised Iron Mountain from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Robert W. Baird set a $39.00 price target on Iron Mountain and gave the stock a “hold” rating in a research note on Friday, August 25th. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price target on shares of Iron Mountain in a research note on Sunday, September 3rd. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Finally, Evercore ISI started coverage on Iron Mountain in a research note on Wednesday, October 18th. They issued an “outperform” rating and a $46.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $41.20.
Shares of Iron Mountain Incorporated (NYSE:IRM) traded down $0.16 during trading hours on Thursday, hitting $40.52. The company had a trading volume of 1,191,800 shares, compared to its average volume of 1,230,102. The stock has a market cap of $10,859.00, a P/E ratio of 19.56, a P/E/G ratio of 6.35 and a beta of 1.02. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 3.59. Iron Mountain Incorporated has a 1-year low of $31.39 and a 1-year high of $41.53.
Iron Mountain (NYSE:IRM) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $966.00 million for the quarter, compared to the consensus estimate of $960.99 million. Iron Mountain had a return on equity of 15.49% and a net margin of 5.54%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. equities research analysts expect that Iron Mountain Incorporated will post 2.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.5875 per share. The ex-dividend date of this dividend is Thursday, December 14th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.55. This represents a $2.35 annualized dividend and a yield of 5.80%. Iron Mountain’s payout ratio is currently 275.00%.
Iron Mountain 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.
Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRM).
Receive News & Ratings for Iron Mountain Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iron Mountain Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.