Mackay Shields LLC purchased a new stake in Iron Mountain (NYSE:IRM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 256,491 shares of the financial services provider’s stock, valued at approximately $8,428,000.
Several other hedge funds also recently bought and sold shares of the company. Advantus Capital Management Inc lifted its stake in shares of Iron Mountain by 1.8% in the 1st quarter. Advantus Capital Management Inc now owns 83,465 shares of the financial services provider’s stock valued at $2,743,000 after purchasing an additional 1,500 shares during the period. Comerica Bank lifted its stake in shares of Iron Mountain by 1.8% in the 1st quarter. Comerica Bank now owns 88,189 shares of the financial services provider’s stock valued at $2,977,000 after purchasing an additional 1,538 shares during the period. Norinchukin Bank The lifted its stake in shares of Iron Mountain by 8.5% in the 4th quarter. Norinchukin Bank The now owns 21,342 shares of the financial services provider’s stock valued at $805,000 after purchasing an additional 1,664 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Iron Mountain by 10.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 22,632 shares of the financial services provider’s stock valued at $854,000 after purchasing an additional 2,148 shares during the period. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Iron Mountain by 6.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 35,128 shares of the financial services provider’s stock valued at $1,325,000 after purchasing an additional 2,211 shares during the period. 89.18% of the stock is currently owned by institutional investors.
IRM has been the topic of a number of analyst reports. Zacks Investment Research raised Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Tuesday, April 24th. Goldman Sachs initiated coverage on shares of Iron Mountain in a research report on Tuesday, March 27th. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Stifel Nicolaus lowered their price objective on shares of Iron Mountain from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Iron Mountain currently has an average rating of “Buy” and an average price target of $39.33.
IRM opened at $33.72 on Friday. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 15.76 and a beta of 0.81.
Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company earned $0.48 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. research analysts expect that Iron Mountain will post 2.13 earnings per share for the current year.
In other Iron Mountain news, Director Clark H. Bailey sold 9,261 shares of the stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $34.55, for a total transaction of $319,967.55. Following the completion of the transaction, the director now owns 160,855 shares in the company, valued at approximately $5,557,540.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William L. Meaney sold 24,137 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.08, for a total value of $774,314.96. Following the transaction, the insider now owns 93,587 shares of the company’s stock, valued at approximately $3,002,270.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,542 shares of company stock valued at $1,197,860. Corporate insiders own 1.50% of the company’s stock.
About Iron Mountain
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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