Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Iron Mountain Inc. (NYSE:IRM) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,651 shares of the company’s stock, valued at approximately $384,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Iron Mountain by 20.6% in the second quarter. Vanguard Group Inc. now owns 38,112,697 shares of the company’s stock valued at $1,518,029,000 after buying an additional 6,510,415 shares during the last quarter. State Street Corp increased its position in shares of Iron Mountain by 21.5% in the second quarter. State Street Corp now owns 10,111,107 shares of the company’s stock worth $402,723,000 after buying an additional 1,786,266 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Iron Mountain by 25.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,150,501 shares of the company’s stock worth $324,634,000 after buying an additional 1,666,166 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Iron Mountain by 27.4% in the second quarter. BlackRock Fund Advisors now owns 5,139,632 shares of the company’s stock worth $204,712,000 after buying an additional 1,105,869 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its position in shares of Iron Mountain by 925.9% in the second quarter. Pictet Asset Management Ltd. now owns 1,112,329 shares of the company’s stock worth $40,867,000 after buying an additional 1,003,900 shares in the last quarter. Hedge funds and other institutional investors own 79.92% of the company’s stock.
Shares of Iron Mountain Inc. (NYSE:IRM) traded up 1.69% during midday trading on Friday, hitting $33.66. The stock had a trading volume of 568,441 shares. The firm has a 50 day moving average price of $33.20 and a 200 day moving average price of $36.85. Iron Mountain Inc. has a one year low of $23.64 and a one year high of $41.50. The stock has a market cap of $8.87 billion, a PE ratio of 127.50 and a beta of 0.95.
Iron Mountain (NYSE:IRM) last announced its earnings results on Tuesday, November 1st. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Iron Mountain had a return on equity of 19.82% and a net margin of 1.90%. The company earned $943 million during the quarter, compared to analysts’ expectations of $933.49 million. During the same period last year, the business posted $0.55 EPS. Iron Mountain’s revenue for the quarter was up 26.3% on a year-over-year basis. On average, equities analysts forecast that Iron Mountain Inc. will post $1.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be given a $0.55 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $2.20 dividend on an annualized basis and a yield of 6.54%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.49. Iron Mountain’s dividend payout ratio (DPR) is currently 646.67%.
A number of equities analysts have commented on IRM shares. Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 target price on shares of Iron Mountain in a report on Tuesday, September 13th. Zacks Investment Research upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Monday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Finally, TheStreet downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Iron Mountain currently has an average rating of “Hold” and a consensus price target of $44.50.
In other Iron Mountain news, Director Walter C. Rakowich sold 1,466 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.32, for a total value of $53,245.12. Following the sale, the director now owns 7,130 shares of the company’s stock, valued at approximately $258,961.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eileen Sweeney sold 4,083 shares of the stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $33.00, for a total value of $134,739.00. Following the completion of the sale, the vice president now directly owns 2,107 shares in the company, valued at approximately $69,531. The disclosure for this sale can be found here. 1.80% of the stock is owned by company 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.