grace capital Buys New Stake in Iron Mountain Inc (IRM)

grace capital bought a new position in shares of Iron Mountain Inc (NYSE:IRM) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 14,670 shares of the financial services provider’s stock, valued at approximately $514,000.

Several other institutional investors also recently bought and sold shares of IRM. CENTRAL TRUST Co grew its position in shares of Iron Mountain by 13.8% in the 2nd quarter. CENTRAL TRUST Co now owns 12,284 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 1,490 shares during the period. Tredje AP fonden grew its position in shares of Iron Mountain by 12.6% in the 1st quarter. Tredje AP fonden now owns 13,410 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 1,500 shares during the period. D.A. Davidson & CO. grew its position in shares of Iron Mountain by 4.0% in the 2nd quarter. D.A. Davidson & CO. now owns 40,290 shares of the financial services provider’s stock valued at $1,411,000 after purchasing an additional 1,534 shares during the period. Comerica Bank grew its position in shares of Iron Mountain by 1.8% in the 1st quarter. Comerica Bank now owns 88,189 shares of the financial services provider’s stock valued at $2,977,000 after purchasing an additional 1,538 shares during the period. Finally, Sumitomo Life Insurance Co. grew its position in shares of Iron Mountain by 4.5% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 36,365 shares of the financial services provider’s stock valued at $1,273,000 after purchasing an additional 1,559 shares during the period. Institutional investors own 86.06% of the company’s stock.

Several equities analysts recently issued reports on IRM shares. Barclays started coverage on Iron Mountain in a research report on Wednesday, July 18th. They issued an “equal weight” rating and a $39.00 price objective for the company. ValuEngine lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Credit Suisse Group started coverage on Iron Mountain in a research report on Friday, August 10th. They issued an “underperform” rating and a $25.00 price objective for the company. Finally, TheStreet upgraded Iron Mountain from a “c+” rating to a “b-” rating in a research report on Wednesday, June 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $38.57.

NYSE IRM opened at $36.34 on Friday. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 16.91 and a beta of 0.62. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 3.87. Iron Mountain Inc has a 52 week low of $30.78 and a 52 week high of $41.53.

Iron Mountain (NYSE:IRM) last released its earnings results on Friday, July 27th. The financial services provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Iron Mountain had a return on equity of 14.82% and a net margin of 4.56%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. equities analysts expect that Iron Mountain Inc will post 2.12 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Monday, September 17th will be paid a $0.5875 dividend. This represents a $2.35 annualized dividend and a yield of 6.47%. The ex-dividend date is Friday, September 14th. Iron Mountain’s payout ratio is 110.33%.

In other Iron Mountain news, CFO Stuart B. Brown sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $35.38, for a total value of $61,915.00. Following the sale, the chief financial officer now owns 7,661 shares in the company, valued at approximately $271,046.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter C. Rakowich sold 1,765 shares of the business’s stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $34.95, for a total value of $61,686.75. Following the completion of the sale, the director now owns 20,324 shares in the company, valued at approximately $710,323.80. The disclosure for this sale can be found here. Insiders own 1.60% 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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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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