Orinda Asset Management LLC Purchases New Position in Iron Mountain Inc (IRM)

Orinda Asset Management LLC purchased a new position in shares of Iron Mountain Inc (NYSE:IRM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,000 shares of the financial services provider’s stock, valued at approximately $414,000. Iron Mountain accounts for 0.8% of Orinda Asset Management LLC’s investment portfolio, making the stock its 23rd largest holding.

A number of other large investors have also modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in Iron Mountain by 55.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 102,500 shares of the financial services provider’s stock worth $3,538,000 after purchasing an additional 36,400 shares during the period. Andra AP fonden boosted its stake in Iron Mountain by 12.1% during the 3rd quarter. Andra AP fonden now owns 140,400 shares of the financial services provider’s stock worth $4,847,000 after purchasing an additional 15,100 shares during the period. First Hawaiian Bank acquired a new stake in Iron Mountain during the 3rd quarter worth $877,000. Bank of Montreal Can boosted its stake in Iron Mountain by 1.6% during the 3rd quarter. Bank of Montreal Can now owns 320,957 shares of the financial services provider’s stock worth $11,079,000 after purchasing an additional 4,962 shares during the period. Finally, Clinton Group Inc. acquired a new stake in Iron Mountain during the 3rd quarter worth $233,000. Hedge funds and other institutional investors own 86.04% of the company’s stock.

Iron Mountain stock traded down $0.41 during trading hours on Wednesday, reaching $31.74. 1,636,700 shares of the stock were exchanged, compared to its average volume of 1,784,066. The company has a market cap of $9.88 billion, a P/E ratio of 14.94 and a beta of 0.61. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.98 and a current ratio of 0.98. Iron Mountain Inc has a 52-week low of $30.78 and a 52-week high of $41.53.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Friday, July 27th. The financial services provider reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Iron Mountain had a net margin of 4.56% and a return on equity of 14.82%. Iron Mountain’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. As a group, equities analysts predict that Iron Mountain Inc will post 2.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th were issued a $0.5875 dividend. The ex-dividend date was Friday, September 14th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 7.40%. Iron Mountain’s dividend payout ratio is presently 110.33%.

IRM has been the subject of a number of recent research reports. TheStreet upgraded shares of Iron Mountain from a “c+” rating to a “b-” rating in a research note on Wednesday, June 20th. Zacks Investment Research downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Barclays started coverage on shares of Iron Mountain in a research report on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 price objective for the company. Credit Suisse Group started coverage on shares of Iron Mountain in a research report on Friday, August 10th. They set an “underperform” rating and a $25.00 price objective for the company. Finally, Berenberg Bank started coverage on shares of Iron Mountain in a research report on Thursday, September 20th. They set a “buy” rating and a $52.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Iron Mountain presently has a consensus rating of “Hold” and an average price target of $40.25.

In other news, CFO Stuart B. Brown sold 1,750 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $35.38, for a total value of $61,915.00. Following the completion of the transaction, the chief financial officer now owns 7,661 shares in the company, valued at approximately $271,046.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

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 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.

Further Reading: Return on Investment (ROI) Defined, Explained

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

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