Comerica Bank raised its stake in Iron Mountain (NYSE:IRM) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,189 shares of the financial services provider’s stock after purchasing an additional 1,538 shares during the quarter. Comerica Bank’s holdings in Iron Mountain were worth $2,977,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Certified Advisory Corp purchased a new position in Iron Mountain in the fourth quarter valued at about $128,000. Global X Management Co. LLC raised its position in Iron Mountain by 196.2% in the fourth quarter. Global X Management Co. LLC now owns 3,540 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 2,345 shares during the period. Aevitas Wealth Management Inc. purchased a new position in Iron Mountain in the fourth quarter valued at about $155,000. Robeco Institutional Asset Management B.V. raised its position in Iron Mountain by 11,438.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,846 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 4,804 shares during the period. Finally, Accident Compensation Corp purchased a new position in Iron Mountain in the fourth quarter valued at about $226,000. 90.39% of the stock is currently owned by institutional investors.
Shares of Iron Mountain opened at $32.08 on Monday, MarketBeat.com reports. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $9.17 billion, a PE ratio of 15.06 and a beta of 0.81. Iron Mountain has a 1-year low of $30.78 and a 1-year high of $41.53.
Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, April 26th. The financial services provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Iron Mountain had a return on equity of 14.96% and a net margin of 4.31%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. analysts predict that Iron Mountain will post 2.08 EPS for the current fiscal year.
Several research firms have commented on IRM. Zacks Investment Research lowered Iron Mountain from a “buy” rating to a “hold” rating in a research report on Monday, April 30th. ValuEngine lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus cut their price objective on Iron Mountain from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Finally, Goldman Sachs began coverage on Iron Mountain in a research report on Tuesday, March 27th. They issued a “buy” rating and a $41.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Iron Mountain presently has a consensus rating of “Hold” and an average price target of $39.33.
In other Iron Mountain news, Director Alfred J. Verrecchia bought 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of $32.49 per share, for a total transaction of $162,450.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Theodore Maclean sold 1,076 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.30, for a total value of $34,754.80. Following the sale, the executive vice president now owns 6,367 shares of the company’s stock, valued at $205,654.10. The disclosure for this sale can be found here. Insiders have sold 35,197 shares of company stock valued at $1,152,896 over the last 90 days. Insiders own 1.50% of the company’s stock.
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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