Linscomb & Williams Inc. lifted its position in shares of Iron Mountain Inc (NYSE:IRM) by 20.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 72,724 shares of the financial services provider’s stock after acquiring an additional 12,488 shares during the period. Linscomb & Williams Inc.’s holdings in Iron Mountain were worth $2,579,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. raised its stake in Iron Mountain by 68.4% in the 4th quarter. Cohen & Steers Inc. now owns 10,970,773 shares of the financial services provider’s stock valued at $355,563,000 after purchasing an additional 4,456,942 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Iron Mountain by 6,329.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,923,848 shares of the financial services provider’s stock valued at $127,172,000 after purchasing an additional 3,862,815 shares during the last quarter. Norges Bank acquired a new position in Iron Mountain in the 4th quarter valued at about $63,345,000. Deutsche Bank AG grew its holdings in Iron Mountain by 250.0% in the 4th quarter. Deutsche Bank AG now owns 2,734,846 shares of the financial services provider’s stock valued at $88,631,000 after buying an additional 1,953,547 shares during the period. Finally, Stifel Financial Corp grew its holdings in Iron Mountain by 418.9% in the 4th quarter. Stifel Financial Corp now owns 1,940,923 shares of the financial services provider’s stock valued at $62,906,000 after buying an additional 1,566,863 shares during the period. 87.50% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on IRM. TheStreet cut Iron Mountain from a “b-” rating to a “c+” rating in a report on Tuesday, May 14th. Robert W. Baird cut Iron Mountain from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $34.00 to $27.00 in a report on Friday, April 26th. Zacks Investment Research cut Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Mitsubishi UFJ Financial Group boosted their target price on Iron Mountain to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, February 20th. Finally, Credit Suisse Group reiterated an “underperform” rating on shares of Iron Mountain in a report on Tuesday, February 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $35.13.
Shares of NYSE:IRM opened at $31.31 on Friday. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.80 and a quick ratio of 0.80. Iron Mountain Inc has a 1 year low of $30.22 and a 1 year high of $37.32. The stock has a market cap of $8.98 billion, a PE ratio of 13.61, a PEG ratio of 3.07 and a beta of 0.63.
Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). Iron Mountain had a return on equity of 19.61% and a net margin of 8.22%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Iron Mountain Inc will post 2.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 17th will be issued a dividend of $0.611 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.81%. The ex-dividend date of this dividend is Friday, June 14th. Iron Mountain’s payout ratio is currently 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 approximately 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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