Mackay Shields LLC Has $1.68 Million Position in Iron Mountain Inc (IRM)
Mackay Shields LLC increased its position in shares of Iron Mountain Inc (NYSE:IRM) by 13.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 51,731 shares of the financial services provider’s stock after buying an additional 6,009 shares during the period. Mackay Shields LLC’s holdings in Iron Mountain were worth $1,676,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc grew its holdings in shares of Iron Mountain by 0.3% during the third quarter. Vanguard Group Inc now owns 43,901,848 shares of the financial services provider’s stock valued at $1,515,491,000 after buying an additional 138,607 shares during the last quarter. Capital World Investors boosted its holdings in Iron Mountain by 5.6% during the third quarter. Capital World Investors now owns 34,241,200 shares of the financial services provider’s stock worth $1,182,006,000 after purchasing an additional 1,804,600 shares during the last quarter. BlackRock Inc. boosted its holdings in Iron Mountain by 1.2% during the fourth quarter. BlackRock Inc. now owns 20,124,142 shares of the financial services provider’s stock worth $652,224,000 after purchasing an additional 231,023 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in Iron Mountain by 68.4% during the fourth quarter. Cohen & Steers Inc. now owns 10,970,773 shares of the financial services provider’s stock worth $355,563,000 after purchasing an additional 4,456,942 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Iron Mountain by 45.8% during the third quarter. Morgan Stanley now owns 4,508,612 shares of the financial services provider’s stock worth $155,638,000 after purchasing an additional 1,416,410 shares during the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on IRM shares. Zacks Investment Research upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Wednesday, November 28th. Robert W. Baird set a $34.00 target price on shares of Iron Mountain and gave the company a “hold” rating in a research note on Friday, February 15th. ValuEngine cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Mitsubishi UFJ Financial Group boosted their target price on shares of Iron Mountain to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, February 20th. Finally, Credit Suisse Group reiterated an “underperform” rating on shares of Iron Mountain in a research note on Tuesday, February 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $36.56.
NYSE IRM opened at $35.12 on Monday. Iron Mountain Inc has a 12-month low of $30.22 and a 12-month high of $37.32. The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $10.06 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.69.
Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 14th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.27). Iron Mountain had a net margin of 8.60% and a return on equity of 19.30%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts predict that Iron Mountain Inc will post 2.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Friday, March 15th will be issued a dividend of $0.611 per share. This represents a $2.44 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date is Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 106.09%.
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Iron Mountain Company Profile
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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