Alps Advisors Inc. bought a new position in Iron Mountain Inc (NYSE:IRM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 24,415 shares of the financial services provider’s stock, valued at approximately $843,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Synovus Financial Corp lifted its stake in shares of Iron Mountain by 402.0% in the 2nd quarter. Synovus Financial Corp now owns 3,012 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 2,412 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of Iron Mountain in the 2nd quarter worth $115,000. Klingenstein Fields & Co. LLC acquired a new stake in shares of Iron Mountain in the 2nd quarter worth $202,000. Qube Research & Technologies Ltd lifted its stake in shares of Iron Mountain by 775.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 5,772 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 5,113 shares during the period. Finally, Chemical Bank acquired a new stake in shares of Iron Mountain in the 2nd quarter worth $207,000. Institutional investors own 86.30% of the company’s stock.
Shares of NYSE IRM opened at $31.18 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 4.18. Iron Mountain Inc has a 52 week low of $30.22 and a 52 week high of $41.53. The stock has a market capitalization of $9.05 billion, a P/E ratio of 14.64 and a beta of 0.61.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Iron Mountain had a net margin of 5.49% and a return on equity of 14.71%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. As a group, research analysts anticipate that Iron Mountain Inc will post 2.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Monday, December 17th will be paid a $0.611 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, December 14th. This represents a $2.44 annualized dividend and a dividend yield of 7.84%. Iron Mountain’s dividend payout ratio (DPR) is 110.33%.
Several analysts have recently commented on IRM shares. Zacks Investment Research upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday, October 29th. Berenberg Bank initiated coverage on shares of Iron Mountain in a research note on Thursday, September 20th. They issued a “buy” rating and a $52.00 price objective for the company. Barclays initiated coverage on shares of Iron Mountain in a research note on Wednesday, July 18th. They issued an “equal weight” rating and a $39.00 price objective for the company. Stifel Nicolaus cut shares of Iron Mountain from a “buy” rating to a “hold” rating and reduced their price objective for the company from $39.00 to $34.00 in a research note on Friday, October 26th. Finally, ValuEngine upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Iron Mountain presently has a consensus rating of “Hold” and an average target price of $37.50.
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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