Parallel Advisors LLC lessened its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 66.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 819 shares of the financial services provider’s stock after selling 1,588 shares during the period. Parallel Advisors LLC’s holdings in Iron Mountain were worth $26,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Meridian Wealth Management LLC boosted its stake in Iron Mountain by 2.6% in the second quarter. Meridian Wealth Management LLC now owns 13,935 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 355 shares in the last quarter. Sapience Investments LLC increased its stake in Iron Mountain by 0.4% during the 1st quarter. Sapience Investments LLC now owns 91,690 shares of the financial services provider’s stock worth $3,251,000 after buying an additional 370 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in Iron Mountain by 0.9% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 43,515 shares of the financial services provider’s stock worth $1,543,000 after buying an additional 382 shares during the period. NTV Asset Management LLC grew its holdings in Iron Mountain by 6.2% during the 1st quarter. NTV Asset Management LLC now owns 6,900 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 400 shares in the last quarter. Finally, Bank of The West boosted its holdings in shares of Iron Mountain by 7.2% in the 2nd quarter. Bank of The West now owns 6,554 shares of the financial services provider’s stock valued at $205,000 after buying an additional 438 shares during the period. Institutional investors own 87.64% of the company’s stock.
Shares of NYSE IRM traded up $0.24 during trading on Wednesday, reaching $31.45. 135,995 shares of the company traded hands, compared to its average volume of 2,609,714. Iron Mountain Inc has a 12-month low of $29.28 and a 12-month high of $37.32. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 6.06. The stock has a market cap of $9.00 billion, a P/E ratio of 13.67, a PEG ratio of 3.62 and a beta of 0.59. The firm’s fifty day simple moving average is $30.76 and its 200 day simple moving average is $32.89.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Monday, September 16th will be given a dividend of $0.611 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.77%. Iron Mountain’s dividend payout ratio (DPR) is 106.09%.
A number of analysts have commented on the stock. Wells Fargo & Co initiated coverage on shares of Iron Mountain in a research report on Wednesday, July 10th. They set an “outperform” rating and a $31.60 price target on the stock. Bank of America cut shares of Iron Mountain from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $33.00 to $25.00 in a research note on Thursday, July 11th. TheStreet lowered shares of Iron Mountain from a “b-” rating to a “c+” rating in a report on Tuesday, May 14th. ValuEngine downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Robert W. Baird raised shares of Iron Mountain from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $27.00 to $29.00 in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Iron Mountain has a consensus rating of “Hold” and a consensus target price of $35.08.
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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