Iron Mountain Incorporated (IRM) Position Decreased by Los Angeles Capital Management & Equity Research Inc.

Los Angeles Capital Management & Equity Research Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 94.3% during the first quarter, Holdings Channel reports. The institutional investor owned 7,892 shares of the financial services provider’s stock after selling 131,314 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Iron Mountain were worth $282,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in IRM. Parnassus Investments CA increased its stake in Iron Mountain by 3.8% in the first quarter. Parnassus Investments CA now owns 11,942,837 shares of the financial services provider’s stock valued at $414,108,000 after buying an additional 441,458 shares in the last quarter. River Road Asset Management LLC increased its stake in Iron Mountain by 3.4% in the first quarter. River Road Asset Management LLC now owns 3,471,116 shares of the financial services provider’s stock valued at $123,815,000 after buying an additional 114,171 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Iron Mountain by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,311,407 shares of the financial services provider’s stock valued at $107,554,000 after buying an additional 275,336 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Iron Mountain by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 2,923,702 shares of the financial services provider’s stock valued at $104,288,000 after buying an additional 135,159 shares in the last quarter. Finally, Janus Capital Management LLC increased its stake in Iron Mountain by 39.7% in the fourth quarter. Janus Capital Management LLC now owns 2,795,538 shares of the financial services provider’s stock valued at $90,799,000 after buying an additional 794,355 shares in the last quarter. Hedge funds and other institutional investors own 87.30% of the company’s stock.

Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

Shares of Iron Mountain Incorporated (NYSE:IRM) opened at 34.72 on Tuesday. The company’s 50-day moving average price is $34.74 and its 200 day moving average price is $34.92. The company has a market cap of $9.17 billion, a P/E ratio of 91.37 and a beta of 1.01. Iron Mountain Incorporated has a one year low of $30.75 and a one year high of $41.50.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, April 27th. The financial services provider reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.03. The firm had revenue of $939 million during the quarter, compared to analysts’ expectations of $928.62 million. Iron Mountain had a net margin of 2.75% and a return on equity of 12.74%. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities research analysts anticipate that Iron Mountain Incorporated will post $1.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date is Tuesday, June 13th. Iron Mountain’s dividend payout ratio (DPR) is presently 578.96%.

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IRM has been the subject of several recent research reports. Zacks Investment Research downgraded Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday, February 27th. BidaskClub downgraded Iron Mountain from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. Deutsche Bank AG downgraded Iron Mountain from a “hold” rating to a “sell” rating and decreased their price objective for the company from $41.00 to $30.00 in a report on Wednesday, June 7th. TheStreet upgraded Iron Mountain from a “c+” rating to a “b” rating in a report on Thursday, February 23rd. Finally, Stifel Nicolaus restated a “buy” rating and set a $40.00 price objective on shares of Iron Mountain in a report on Friday, June 9th. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. Iron Mountain has a consensus rating of “Hold” and an average target price of $38.75.

In related news, SVP Eileen Sweeney sold 2,100 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $35.14, for a total transaction of $73,794.00. Following the completion of the transaction, the senior vice president now owns 2,104 shares of the company’s stock, valued at approximately $73,934.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Walter C. Rakowich sold 1,552 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $35.15, for a total value of $54,552.80. Following the transaction, the director now directly owns 15,074 shares of the company’s stock, valued at approximately $529,851.10. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

About Iron Mountain

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “IRM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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