Trade Report: The Nationwide Fund Advisors Raises its position in Iron Mountain Inc. (IRM) as a favorable investment target.

The Nationwide Fund Advisors Raises its position in Iron Mountain Inc. (IRM) as a favorable investment target.

Nationwide Fund Advisors increased its stake in shares of Iron Mountain Inc. (NYSE:IRM) by 21.5% during the second quarter, Holdings Channel reports. The firm owned 67,775 shares of the company’s stock after buying an additional 11,986 shares during the period. Nationwide Fund Advisors’ holdings in Iron Mountain were worth $2,699,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Makaira Partners LLC bought a new position in Iron Mountain during the first quarter valued at approximately $104,016,000. JPMorgan Chase & Co. increased its position in Iron Mountain by 181.6% in the second quarter. JPMorgan Chase & Co. now owns 887,433 shares of the company’s stock valued at $35,346,000 after buying an additional 572,274 shares during the period. Bank of Montreal Can bought a new position in Iron Mountain during the second quarter valued at approximately $21,645,000. Uniplan Investment Counsel Inc. increased its position in Iron Mountain by 31.7% in the first quarter. Uniplan Investment Counsel Inc. now owns 1,710,721 shares of the company’s stock valued at $49,045,000 after buying an additional 411,439 shares during the period. Finally, Resolution Capital Ltd bought a new position in Iron Mountain during the second quarter valued at approximately $15,807,000. 80.81% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Inc. (NYSE:IRM) traded down 0.89% during mid-day trading on Friday, reaching $33.57. 1,852,054 shares of the company were exchanged. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 95.10 and a beta of 0.70. The company has a 50 day moving average of $37.24 and a 200-day moving average of $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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.05. Iron Mountain had a net margin of 2.51% and a return on equity of 26.91%. The firm earned $883.70 million during the quarter, compared to analysts’ expectations of $884.46 million. During the same period in the previous year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. On average, equities research analysts forecast that Iron Mountain Inc. will post $2.16 EPS for the current year.

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

IRM has been the subject of several research reports. Zacks Investment Research downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. TheStreet downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. 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 report on Friday, August 5th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $44.00 price target on shares of Iron Mountain in a report on Friday, June 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 price target on shares of Iron Mountain in a report on Tuesday, September 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $41.00.

In other news, Director Walter C. Rakowich sold 1,466 shares of the business’s stock in a transaction dated 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 owns 7,130 shares of the company’s stock, valued at $258,961.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Edward Bicks sold 2,773 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.32, for a total transaction of $100,715.36. Following the sale, the vice president now directly owns 914 shares of the company’s stock, valued at approximately $33,196.48. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

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.

Related posts

Leave a Comment