The BlackRock Advisors LLC reaches $9,581,000 position of Iron Mountain Inc. (IRM)

The BlackRock Advisors LLC reaches $9,581,000 position  of Iron Mountain Inc. (IRM)

BlackRock Advisors LLC raised its position in shares of Iron Mountain Inc. (NYSE:IRM) by 30.3% during the second quarter, Holdings Channel reports. The firm owned 240,552 shares of the company’s stock after buying an additional 55,982 shares during the period. BlackRock Advisors LLC owned about 0.09% of Iron Mountain worth $9,581,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in Iron Mountain by 347.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,629 shares of the company’s stock worth $105,000 after buying an additional 2,041 shares during the period. JNBA Financial Advisors boosted its stake in shares of Iron Mountain by 421.2% in the second quarter. JNBA Financial Advisors now owns 2,653 shares of the company’s stock worth $106,000 after buying an additional 2,144 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Iron Mountain by 20.9% in the second quarter. Victory Capital Management Inc. now owns 3,050 shares of the company’s stock worth $121,000 after buying an additional 528 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Iron Mountain by 256.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,421 shares of the company’s stock worth $136,000 after buying an additional 2,462 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Iron Mountain by 11.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,555 shares of the company’s stock worth $142,000 after buying an additional 351 shares in the last quarter. 80.81% of the stock is owned by institutional investors and hedge funds.

Shares of Iron Mountain Inc. (NYSE:IRM) opened at 33.57 on Monday. The firm has a market cap of $8.84 billion, a PE ratio of 95.10 and a beta of 0.70. The stock’s 50 day moving average is $37.24 and its 200-day moving average is $37.17. Iron Mountain Inc. has a 1-year low of $23.64 and a 1-year high of $41.50.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The business had revenue of $883.70 million for the quarter, compared to analysts’ expectations of $884.46 million. Iron Mountain had a net margin of 2.51% and a return on equity of 26.91%. Iron Mountain’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. Analysts expect that Iron Mountain Inc. will post $2.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 12th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend was Thursday, September 8th. Iron Mountain’s payout ratio is 510.54%.

A number of brokerages have commented on IRM. Piper Jaffray Cos. reiterated a “buy” rating and issued a $44.00 price target on shares of Iron Mountain in a research note on Friday, June 17th. Zacks Investment Research cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. TheStreet cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price target on shares of Iron Mountain in a research note on Tuesday, September 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $44.50.

In related news, VP Edward Bicks sold 2,773 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.32, for a total value of $100,715.36. Following the sale, the vice president now directly owns 914 shares of the company’s stock, valued at $33,196.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter C. Rakowich sold 1,466 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.32, for a total transaction of $53,245.12. Following the completion of the sale, the director now directly owns 7,130 shares in the company, valued at $258,961.60. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

About Iron Mountain

Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.

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