PNC Financial Services Group Inc. Has $2.34 Million Holdings in Iron Mountain Inc (NYSE:IRM)

PNC Financial Services Group Inc. raised its holdings in Iron Mountain Inc (NYSE:IRM) by 16.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,924 shares of the financial services provider’s stock after acquiring an additional 9,480 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Iron Mountain were worth $2,337,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc grew its stake in shares of Iron Mountain by 0.3% during the third quarter. Vanguard Group Inc now owns 43,901,848 shares of the financial services provider’s stock valued at $1,515,491,000 after buying an additional 138,607 shares during the last quarter. Creative Planning boosted its holdings in shares of Iron Mountain by 26.6% in the fourth quarter. Creative Planning now owns 8,750 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 1,841 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Iron Mountain by 7.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 83,238 shares of the financial services provider’s stock valued at $2,698,000 after purchasing an additional 5,969 shares during the period. BB&T Securities LLC boosted its holdings in shares of Iron Mountain by 30.9% in the fourth quarter. BB&T Securities LLC now owns 35,494 shares of the financial services provider’s stock valued at $1,150,000 after purchasing an additional 8,369 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Iron Mountain by 6.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 34,714 shares of the financial services provider’s stock valued at $1,125,000 after purchasing an additional 2,195 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

A number of analysts recently issued reports on IRM shares. Robert W. Baird lowered Iron Mountain from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $34.00 to $27.00 in a report on Friday, April 26th. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Credit Suisse Group reiterated an “underperform” rating on shares of Iron Mountain in a report on Tuesday, February 19th. Mitsubishi UFJ Financial Group boosted their price target on Iron Mountain to $37.00 and gave the company a “neutral” rating in a report on Wednesday, February 20th. Finally, ValuEngine lowered Iron Mountain from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $35.13.

Iron Mountain stock opened at $32.08 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 4.75. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 3.05 and a beta of 0.64. Iron Mountain Inc has a twelve month low of $30.22 and a twelve month high of $37.32.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.05). The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Iron Mountain had a return on equity of 19.61% and a net margin of 8.22%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. Analysts anticipate that Iron Mountain Inc will post 2.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 17th will be issued a dividend of $0.611 per share. The ex-dividend date is Friday, June 14th. This represents a $2.44 dividend on an annualized basis and a yield of 7.62%. Iron Mountain’s dividend payout ratio is currently 106.09%.

In other Iron Mountain news, Director Walter C. Rakowich sold 2,024 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $31.47, for a total transaction of $63,695.28. Following the completion of the sale, the director now owns 23,360 shares in the company, valued at $735,139.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Edward Bicks sold 2,922 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $36.55, for a total value of $106,799.10. Following the sale, the senior vice president now owns 2,922 shares of the company’s stock, valued at approximately $106,799.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,602 shares of company stock valued at $2,038,718. 1.90% of the stock is owned by company insiders.

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About Iron Mountain

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 approximately 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: Futures Contract

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

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