Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 1.8% during the 2nd quarter, Holdings Channel reports. The firm owned 1,684,795 shares of the financial services provider’s stock after purchasing an additional 30,428 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Iron Mountain were worth $43,973,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in IRM. Mutual of America Capital Management LLC boosted its holdings in Iron Mountain by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 39,113 shares of the financial services provider’s stock worth $931,000 after acquiring an additional 419 shares in the last quarter. CWM LLC boosted its holdings in Iron Mountain by 39.5% in the first quarter. CWM LLC now owns 1,702 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 482 shares in the last quarter. Mcmillion Capital Management Inc. boosted its holdings in Iron Mountain by 34.5% in the first quarter. Mcmillion Capital Management Inc. now owns 1,950 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 500 shares in the last quarter. Cim Investment Mangement Inc. boosted its holdings in Iron Mountain by 3.7% in the first quarter. Cim Investment Mangement Inc. now owns 16,487 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 589 shares in the last quarter. Finally, Corrado Advisors LLC boosted its holdings in Iron Mountain by 6.2% in the second quarter. Corrado Advisors LLC now owns 10,869 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 630 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.
IRM stock opened at $28.19 on Friday. Iron Mountain Inc has a twelve month low of $21.00 and a twelve month high of $34.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 9.31. The stock’s 50 day moving average is $26.81 and its 200-day moving average is $27.56. The firm has a market capitalization of $8.12 billion, a PE ratio of 11.75, a P/E/G ratio of 2.30 and a beta of 0.67.
Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.09. Iron Mountain had a return on equity of 19.16% and a net margin of 7.06%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Iron Mountain Inc will post 2.1 earnings per share for the current fiscal year.
IRM has been the topic of several recent research reports. ValuEngine lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday, April 27th. Credit Suisse Group cut their price target on Iron Mountain from $18.00 to $17.00 and set an “underperform” rating on the stock in a report on Friday, May 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Iron Mountain presently has a consensus rating of “Hold” and an average target price of $32.20.
In other news, Director Jennifer Allerton sold 7,011 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $27.30, for a total value of $191,400.30. Following the transaction, the director now owns 12,812 shares in the company, valued at $349,767.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.
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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