Hunter Associates Investment Management LLC Boosts Position in Iron Mountain Inc (IRM)

Hunter Associates Investment Management LLC boosted its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 21.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,699 shares of the financial services provider’s stock after purchasing an additional 3,800 shares during the period. Hunter Associates Investment Management LLC’s holdings in Iron Mountain were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at $2,040,000. Wells Fargo & Company MN increased its stake in shares of Iron Mountain by 17.9% in the first quarter. Wells Fargo & Company MN now owns 619,786 shares of the financial services provider’s stock valued at $20,366,000 after buying an additional 94,107 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Iron Mountain by 17.9% in the first quarter. Daiwa Securities Group Inc. now owns 54,673 shares of the financial services provider’s stock valued at $1,797,000 after buying an additional 8,300 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Iron Mountain by 2.8% in the first quarter. Rhumbline Advisers now owns 559,849 shares of the financial services provider’s stock valued at $18,397,000 after buying an additional 15,278 shares in the last quarter. Finally, Dupont Capital Management Corp increased its stake in shares of Iron Mountain by 40.9% in the first quarter. Dupont Capital Management Corp now owns 34,528 shares of the financial services provider’s stock valued at $1,135,000 after buying an additional 10,019 shares in the last quarter. Institutional investors own 86.00% of the company’s stock.

A number of analysts have recently weighed in on IRM shares. Barclays started coverage on Iron Mountain in a research note on Wednesday, July 18th. They issued an “equal weight” rating and a $39.00 target price for the company. ValuEngine lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Credit Suisse Group started coverage on Iron Mountain in a research note on Friday, August 10th. They issued an “underperform” rating and a $25.00 target price for the company. Finally, TheStreet upgraded Iron Mountain from a “c+” rating to a “b-” rating in a research note on Wednesday, June 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.57.

In other news, CFO Stuart B. Brown sold 1,750 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $35.38, for a total transaction of $61,915.00. Following the completion of the transaction, the chief financial officer now directly owns 7,661 shares in the company, valued at approximately $271,046.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Walter C. Rakowich sold 1,765 shares of the business’s stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $34.95, for a total value of $61,686.75. Following the transaction, the director now owns 20,324 shares of the company’s stock, valued at $710,323.80. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Shares of IRM stock opened at $35.90 on Monday. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $10.27 billion, a P/E ratio of 16.85 and a beta of 0.67. Iron Mountain Inc has a 12 month low of $30.78 and a 12 month high of $41.53.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Iron Mountain had a return on equity of 14.82% and a net margin of 4.56%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. equities analysts anticipate that Iron Mountain Inc will post 2.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Monday, September 17th will be given a $0.5875 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $2.35 dividend on an annualized basis and a yield of 6.55%. Iron Mountain’s payout ratio is 110.33%.

Iron Mountain 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.

Further Reading: Outstanding Shares

Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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