Comerica Bank Boosts Position in Iron Mountain (IRM)

Comerica Bank increased its position in Iron Mountain (NYSE:IRM) by 1.8% in the first quarter, HoldingsChannel reports. The firm owned 88,189 shares of the financial services provider’s stock after purchasing an additional 1,538 shares during the quarter. Comerica Bank’s holdings in Iron Mountain were worth $2,977,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Norinchukin Bank The grew its stake in Iron Mountain by 8.5% in the fourth quarter. Norinchukin Bank The now owns 21,342 shares of the financial services provider’s stock worth $805,000 after purchasing an additional 1,664 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Iron Mountain by 10.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 22,632 shares of the financial services provider’s stock worth $854,000 after purchasing an additional 2,148 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Iron Mountain by 6.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 35,128 shares of the financial services provider’s stock worth $1,325,000 after purchasing an additional 2,211 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in Iron Mountain by 4.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 49,134 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 2,230 shares in the last quarter. Finally, Global X Management Co. LLC grew its stake in Iron Mountain by 196.2% in the fourth quarter. Global X Management Co. LLC now owns 3,540 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 2,345 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Shares of Iron Mountain opened at $32.08 on Monday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.24 and a quick ratio of 1.24. Iron Mountain has a 52 week low of $30.78 and a 52 week high of $41.53. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 15.06 and a beta of 0.81.

Iron Mountain (NYSE:IRM) last issued its earnings results 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 return on equity of 14.96% and a net margin of 4.31%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. Iron Mountain’s quarterly revenue was up 10.8% compared to the same quarter last year. analysts predict that Iron Mountain will post 2.08 earnings per share for the current fiscal year.

In other Iron Mountain news, insider William L. Meaney sold 24,137 shares of Iron Mountain stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.08, for a total value of $774,314.96. Following the completion of the transaction, the insider now directly owns 93,587 shares in the company, valued at $3,002,270.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Clark H. Bailey sold 9,261 shares of Iron Mountain stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $34.55, for a total value of $319,967.55. Following the completion of the transaction, the director now owns 160,855 shares of the company’s stock, valued at $5,557,540.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,197 shares of company stock valued at $1,152,896. 1.50% of the stock is currently owned by insiders.

A number of equities analysts recently commented on IRM shares. Stifel Nicolaus decreased their price target on Iron Mountain from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Goldman Sachs started coverage on Iron Mountain in a research note on Tuesday, March 27th. They issued a “buy” rating and a $41.00 price target for the company. Zacks Investment Research upgraded Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Tuesday, April 24th. Finally, ValuEngine downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.33.

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

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