Bluefin Capital Management LLC Sells 770 Shares of Iron Mountain Incorporated (NYSE:IRM)

Bluefin Capital Management LLC lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 10.1% in the first quarter, reports. The fund owned 6,820 shares of the financial services provider’s stock after selling 770 shares during the period. Bluefin Capital Management LLC’s holdings in Iron Mountain were worth $252,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Sound Income Strategies LLC lifted its holdings in shares of Iron Mountain by 55.6% during the 1st quarter. Sound Income Strategies LLC now owns 840 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 300 shares during the period. Vantage Consulting Group Inc acquired a new position in Iron Mountain during the 4th quarter worth approximately $26,000. Concord Wealth Partners acquired a new position in Iron Mountain during the 4th quarter worth approximately $29,000. Sittner & Nelson LLC acquired a new position in Iron Mountain during the 4th quarter worth approximately $29,000. Finally, Jones Financial Companies Lllp acquired a new position in Iron Mountain during the 1st quarter worth approximately $37,000. 77.44% of the stock is owned by institutional investors.

In other news, EVP Ernest W. Cloutier sold 56,223 shares of the stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $39.96, for a total transaction of $2,246,671.08. Following the completion of the sale, the executive vice president now directly owns 116,208 shares in the company, valued at $4,643,671.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO John Tomovcsik sold 1,000 shares of the stock in a transaction on Friday, April 30th. The stock was sold at an average price of $40.29, for a total transaction of $40,290.00. Following the sale, the chief operating officer now owns 40,000 shares of the company’s stock, valued at $1,611,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,405 shares of company stock valued at $5,636,890. Corporate insiders own 2.10% of the company’s stock.

NYSE IRM traded down $0.28 on Thursday, hitting $43.61. The company’s stock had a trading volume of 697 shares, compared to its average volume of 2,025,612. The company has a debt-to-equity ratio of 8.91, a quick ratio of 0.61 and a current ratio of 0.61. Iron Mountain Incorporated has a 1-year low of $24.85 and a 1-year high of $47.34. The stock’s 50-day simple moving average is $43.92. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 9.49 and a beta of 0.78.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, May 6th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.32). Iron Mountain had a net margin of 7.80% and a return on equity of 48.47%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company posted $0.27 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts expect that Iron Mountain Incorporated will post 2.67 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 6th. Shareholders of record on Tuesday, June 15th were given a $0.618 dividend. This represents a $2.47 annualized dividend and a yield of 5.67%. The ex-dividend date was Monday, June 14th. Iron Mountain’s dividend payout ratio (DPR) is currently 80.46%.

Separately, The Goldman Sachs Group upped their price objective on shares of Iron Mountain from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, May 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Iron Mountain currently has a consensus rating of “Hold” and an average target price of $34.00.

Iron Mountain Company 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 90 million square feet across approximately 1,450 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.

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

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