Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 67.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 274,991 shares of the financial services provider’s stock after selling 561,174 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.10% of Iron Mountain worth $9,493,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Iron Mountain by 2.6% in the 3rd quarter. BlackRock Inc. now owns 19,893,119 shares of the financial services provider’s stock worth $686,710,000 after acquiring an additional 509,524 shares during the period. AXA increased its holdings in shares of Iron Mountain by 1,856.0% in the 3rd quarter. AXA now owns 365,064 shares of the financial services provider’s stock worth $12,602,000 after acquiring an additional 346,400 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in shares of Iron Mountain by 21.7% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,787,952 shares of the financial services provider’s stock worth $62,596,000 after acquiring an additional 319,006 shares during the period. Moody National Bank Trust Division increased its holdings in shares of Iron Mountain by 1,004.4% in the 3rd quarter. Moody National Bank Trust Division now owns 204,475 shares of the financial services provider’s stock worth $7,059,000 after acquiring an additional 185,960 shares during the period. Finally, Summit Global Investments acquired a new stake in shares of Iron Mountain in the 2nd quarter worth about $5,579,000. 88.17% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on IRM. Zacks Investment Research raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Monday, October 8th. Credit Suisse Group began coverage on shares of Iron Mountain in a report on Friday, August 10th. They issued an “underperform” rating and a $25.00 price objective on the stock. ValuEngine cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Berenberg Bank began coverage on shares of Iron Mountain in a report on Thursday, September 20th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, Bank of America began coverage on shares of Iron Mountain in a report on Tuesday, November 20th. They issued a “neutral” rating and a $34.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $37.00.
Shares of IRM opened at $34.39 on Friday. The stock has a market capitalization of $9.71 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.83 and a beta of 0.77. The company has a debt-to-equity ratio of 4.18, a current ratio of 0.97 and a quick ratio of 0.97. Iron Mountain Inc has a 52-week low of $30.22 and a 52-week high of $40.75.
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 Zacks’ consensus estimate of $0.27 by $0.01. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Iron Mountain had a net margin of 5.49% and a return on equity of 14.71%. Equities research analysts expect that Iron Mountain Inc will post 2.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Monday, December 17th will be given a $0.611 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date is Friday, December 14th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.59. Iron Mountain’s dividend payout ratio is currently 110.33%.
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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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