Iron Mountain Inc (NYSE:IRM) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 37,180,000 shares, a decline of 5.9% from the August 30th total of 39,510,000 shares. Approximately 13.2% of the company’s shares are short sold. Based on an average daily volume of 2,580,000 shares, the days-to-cover ratio is currently 14.4 days.
In other Iron Mountain news, EVP Patrick J. Keddy sold 6,000 shares of Iron Mountain stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $33.00, for a total value of $198,000.00. Following the sale, the executive vice president now owns 24,114 shares in the company, valued at $795,762. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRM. Wedbush Securities Inc. purchased a new stake in Iron Mountain during the 2nd quarter worth about $227,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Iron Mountain by 37.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 147,070 shares of the financial services provider’s stock worth $4,603,000 after buying an additional 39,800 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in Iron Mountain by 110.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,754 shares of the financial services provider’s stock worth $55,000 after buying an additional 920 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Iron Mountain by 17.5% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 104,537 shares of the financial services provider’s stock worth $3,272,000 after buying an additional 15,538 shares during the last quarter. Finally, Diamant Asset Management Inc. lifted its holdings in Iron Mountain by 3.5% during the 2nd quarter. Diamant Asset Management Inc. now owns 17,650 shares of the financial services provider’s stock worth $552,000 after buying an additional 600 shares during the last quarter. 85.95% of the stock is owned by hedge funds and other institutional investors.
IRM traded up $0.18 on Thursday, hitting $32.89. 65,059 shares of the company were exchanged, compared to its average volume of 2,195,422. Iron Mountain has a twelve month low of $29.28 and a twelve month high of $37.32. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 3.76 and a beta of 0.55. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 6.06. The firm has a 50-day moving average price of $32.28 and a two-hundred day moving average price of $32.14.
Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm posted $0.30 EPS. Iron Mountain’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts expect that Iron Mountain will post 2.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Monday, September 16th were paid a dividend of $0.611 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.44 annualized dividend and a yield of 7.43%. Iron Mountain’s payout ratio is 106.09%.
A number of brokerages have recently weighed in on IRM. Credit Suisse Group reaffirmed a “sell” rating and issued a $21.00 price objective on shares of Iron Mountain in a research note on Thursday, September 12th. TheStreet raised Iron Mountain from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. Robert W. Baird raised Iron Mountain from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $27.00 to $29.00 in a research note on Friday, August 2nd. Bank of America cut Iron Mountain from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $33.00 to $25.00 in a research note on Thursday, July 11th. Finally, Wells Fargo & Co began coverage on Iron Mountain in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $31.60 price objective for the company. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Iron Mountain presently has a consensus rating of “Hold” and a consensus target price of $31.58.
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.
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