Franklin Resources Inc. cut its stake in Iron Mountain Inc (NYSE:IRM) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,118 shares of the financial services provider’s stock after selling 9,100 shares during the period. Franklin Resources Inc.’s holdings in Iron Mountain were worth $5,129,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of IRM. Mutual of America Capital Management LLC grew its holdings in Iron Mountain by 6.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 35,128 shares of the financial services provider’s stock worth $1,325,000 after acquiring an additional 2,211 shares in the last quarter. Comerica Bank grew its holdings in Iron Mountain by 9.6% during the 4th quarter. Comerica Bank now owns 86,651 shares of the financial services provider’s stock worth $3,099,000 after acquiring an additional 7,566 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Iron Mountain by 4.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 49,134 shares of the financial services provider’s stock worth $1,854,000 after acquiring an additional 2,230 shares in the last quarter. American Century Companies Inc. bought a new position in Iron Mountain during the 4th quarter worth about $1,250,000. Finally, Crossmark Global Holdings Inc. grew its holdings in Iron Mountain by 10.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 22,632 shares of the financial services provider’s stock worth $854,000 after acquiring an additional 2,148 shares in the last quarter. Hedge funds and other institutional investors own 86.96% of the company’s stock.
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Several research analysts have issued reports on the stock. ValuEngine upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Zacks Investment Research cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Monday, April 30th. Stifel Nicolaus lowered their price target on shares of Iron Mountain from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Finally, Goldman Sachs Group assumed coverage on shares of Iron Mountain in a report on Tuesday, March 27th. They issued a “buy” rating and a $41.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $41.20.
NYSE:IRM opened at $34.64 on Thursday. Iron Mountain Inc has a fifty-two week low of $30.78 and a fifty-two week high of $41.53. The stock has a market capitalization of $9.90 billion, a PE ratio of 16.26 and a beta of 0.82. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 3.55.
Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Iron Mountain had a net margin of 4.31% and a return on equity of 14.96%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $0.48 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. equities research analysts forecast that Iron Mountain Inc will post 2.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be issued a $0.5875 dividend. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date of this dividend is Thursday, June 14th. Iron Mountain’s dividend payout ratio is currently 110.33%.
In other news, Director Clark H. Bailey sold 9,261 shares of the firm’s stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $34.55, for a total value of $319,967.55. Following the sale, the director now directly owns 160,855 shares in the company, valued at approximately $5,557,540.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.
Iron Mountain 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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