Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Iron Mountain Inc (NYSE:IRM) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,684,795 shares of the financial services provider’s stock after purchasing an additional 30,428 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.59% of Iron Mountain worth $43,973,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Guggenheim Capital LLC increased its holdings in shares of Iron Mountain by 2.1% during the 4th quarter. Guggenheim Capital LLC now owns 424,799 shares of the financial services provider’s stock worth $13,538,000 after acquiring an additional 8,614 shares during the last quarter. Baird Financial Group Inc. boosted its stake in Iron Mountain by 23.9% in the 4th quarter. Baird Financial Group Inc. now owns 19,914 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 3,837 shares during the period. Verus Capital Partners LLC bought a new stake in Iron Mountain in the 4th quarter valued at $61,000. Norges Bank bought a new stake in Iron Mountain in the 4th quarter valued at $92,639,000. Finally, Franklin Resources Inc. boosted its stake in Iron Mountain by 12.3% in the 4th quarter. Franklin Resources Inc. now owns 7,422 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 811 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. Credit Suisse Group reduced their price target on Iron Mountain from $18.00 to $17.00 and set an “underperform” rating for the company in a research note on Friday, May 8th. ValuEngine downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $32.20.
Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. Iron Mountain had a return on equity of 19.16% and a net margin of 7.06%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. Research analysts predict that Iron Mountain Inc will post 2.1 EPS for the current fiscal year.
In other news, Director Jennifer Allerton sold 7,011 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $27.30, for a total transaction of $191,400.30. Following the completion of the sale, the director now directly owns 12,812 shares in the company, valued at approximately $349,767.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.
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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