SG Americas Securities LLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 68.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,795 shares of the company’s stock after selling 29,734 shares during the period. SG Americas Securities LLC’s holdings in Iron Mountain were worth $518,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in Iron Mountain by 0.7% in the second quarter. Janney Montgomery Scott LLC now owns 22,365 shares of the company’s stock valued at $604,000 after buying an additional 153 shares during the last quarter. Franklin Resources Inc. boosted its position in Iron Mountain by 5.2% in the second quarter. Franklin Resources Inc. now owns 7,250 shares of the company’s stock valued at $288,000 after buying an additional 360 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Iron Mountain by 2.8% in the third quarter. Daiwa Securities Group Inc. now owns 14,928 shares of the company’s stock valued at $560,000 after buying an additional 400 shares during the last quarter. Victory Capital Management Inc. boosted its position in Iron Mountain by 20.9% in the second quarter. Victory Capital Management Inc. now owns 3,050 shares of the company’s stock valued at $121,000 after buying an additional 528 shares during the last quarter. Finally, MSI Financial Services Inc boosted its position in Iron Mountain by 9.1% in the third quarter. MSI Financial Services Inc now owns 6,473 shares of the company’s stock valued at $243,000 after buying an additional 541 shares during the last quarter. Hedge funds and other institutional investors own 80.34% of the company’s stock.
Iron Mountain Incorporated (NYSE:IRM) traded up 0.44% during mid-day trading on Wednesday, reaching $34.10. The company’s stock had a trading volume of 880,955 shares. The company has a market capitalization of $8.98 billion, a PE ratio of 129.17 and a beta of 0.91. The firm has a 50 day moving average price of $33.16 and a 200-day moving average price of $35.72. Iron Mountain Incorporated 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 Tuesday, November 1st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. Iron Mountain had a return on equity of 19.82% and a net margin of 1.90%. The business earned $943 million during the quarter, compared to analyst estimates of $933.49 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, equities analysts predict that Iron Mountain Incorporated will post $1.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $2.20 dividend on an annualized basis and a yield of 6.45%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.49. Iron Mountain’s payout ratio is currently 733.33%.
Separately, Zacks Investment Research upgraded Iron Mountain from a “strong sell” rating to a “strong-buy” rating and set a $37.00 price objective for the company in a research report on Tuesday, January 3rd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $43.25.
In related news, CEO William L. Meaney sold 5,664 shares of the business’s stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $32.82, for a total transaction of $185,892.48. Following the completion of the transaction, the chief executive officer now owns 54,026 shares in the company, valued at approximately $1,773,133.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eileen Sweeney sold 4,083 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $33.00, for a total value of $134,739.00. Following the transaction, the vice president now owns 2,107 shares of the company’s stock, valued at approximately $69,531. The disclosure for this sale can be found here. Corporate 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.
Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRM).