Hsbc Holdings PLC raised its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 24.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 263,104 shares of the financial services provider’s stock after acquiring an additional 51,096 shares during the quarter. Hsbc Holdings PLC owned approximately 0.09% of Iron Mountain worth $9,083,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of IRM. Raymond James Financial Services Advisors Inc. bought a new stake in Iron Mountain during the second quarter worth approximately $988,000. Marble Harbor Investment Counsel LLC increased its stake in Iron Mountain by 4.5% during the second quarter. Marble Harbor Investment Counsel LLC now owns 364,609 shares of the financial services provider’s stock worth $12,765,000 after acquiring an additional 15,643 shares during the last quarter. Truvestments Capital LLC bought a new stake in Iron Mountain during the second quarter worth approximately $1,219,000. Woodstock Corp increased its stake in Iron Mountain by 10.2% during the third quarter. Woodstock Corp now owns 31,398 shares of the financial services provider’s stock worth $1,084,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Swiss National Bank increased its stake in Iron Mountain by 4.3% during the second quarter. Swiss National Bank now owns 894,564 shares of the financial services provider’s stock worth $31,319,000 after acquiring an additional 36,800 shares during the last quarter. 88.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:IRM opened at $33.92 on Thursday. Iron Mountain Inc has a 1 year low of $30.22 and a 1 year high of $40.75. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77. 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 (NYSE:IRM) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Iron Mountain had a return on equity of 14.71% and a net margin of 5.49%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Analysts anticipate that Iron Mountain Inc will post 2.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Monday, December 17th will be issued a $0.611 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, December 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.21%. Iron Mountain’s payout ratio is presently 110.33%.
Several brokerages have issued reports on IRM. Zacks Investment Research lowered Iron Mountain from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. Bank of America began coverage on Iron Mountain in a research report on Tuesday, November 20th. They set a “neutral” rating and a $34.00 target price for the company. ValuEngine upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Barclays dropped their target price on Iron Mountain from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 30th. Finally, Stifel Nicolaus lowered Iron Mountain from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $34.00 in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $37.00.
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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 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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