United Capital Financial Advisers LLC increased its position in shares of Iron Mountain Inc (NYSE:IRM) by 28.4% during the first quarter, Holdings Channel reports. The fund owned 100,532 shares of the financial services provider’s stock after acquiring an additional 22,216 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Iron Mountain were worth $3,303,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Certified Advisory Corp acquired a new stake in Iron Mountain during the fourth quarter worth approximately $128,000. Global X Management Co. LLC boosted its position in Iron Mountain by 196.2% during the fourth quarter. Global X Management Co. LLC now owns 3,540 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 2,345 shares during the last quarter. Aevitas Wealth Management Inc. acquired a new stake in Iron Mountain during the fourth quarter worth approximately $155,000. MANA Advisors LLC acquired a new stake in Iron Mountain during the first quarter worth approximately $202,000. Finally, IBM Retirement Fund acquired a new stake in Iron Mountain during the first quarter worth approximately $204,000. Hedge funds and other institutional investors own 86.66% of the company’s stock.
A number of analysts recently issued reports on the stock. ValuEngine upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. Zacks Investment Research lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Monday, April 30th. Finally, Goldman Sachs Group assumed coverage on shares of Iron Mountain in a research report on Tuesday, March 27th. They set a “buy” rating and a $41.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $41.20.
Shares of Iron Mountain opened at $34.32 on Thursday, according to MarketBeat.com. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 16.11 and a beta of 0.82. Iron Mountain Inc has a fifty-two week low of $30.78 and a fifty-two week high of $41.53. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 3.55.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Iron Mountain had a net margin of 4.31% and a return on equity of 14.96%. Iron Mountain’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. sell-side analysts forecast that Iron Mountain Inc will post 2.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be issued a $0.5875 dividend. The ex-dividend date is Thursday, June 14th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.85%. Iron Mountain’s dividend payout ratio (DPR) is presently 110.33%.
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 over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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