Portland Global Advisors LLC trimmed its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 7.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,797 shares of the financial services provider’s stock after selling 611 shares during the period. Portland Global Advisors LLC’s holdings in Iron Mountain were worth $276,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Financial Advocates Investment Management raised its holdings in Iron Mountain by 178.3% in the 4th quarter. Financial Advocates Investment Management now owns 835 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 535 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Iron Mountain by 3,181.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,009,734 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 978,966 shares during the last quarter. Bremer Trust National Association purchased a new position in Iron Mountain in the 4th quarter worth approximately $36,000. Dubuque Bank & Trust Co. raised its holdings in Iron Mountain by 565.3% in the 4th quarter. Dubuque Bank & Trust Co. now owns 1,171 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 995 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in Iron Mountain by 24.2% in the 4th quarter. Bessemer Group Inc. now owns 1,723 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.
In other news, EVP Ernest W. Cloutier sold 21,037 shares of the business’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $36.90, for a total transaction of $776,265.30. Following the completion of the sale, the executive vice president now owns 72,411 shares of the company’s stock, valued at approximately $2,671,965.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Fidelma Russo sold 7,724 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $34.79, for a total transaction of $268,717.96. Following the sale, the executive vice president now directly owns 9,107 shares of the company’s stock, valued at approximately $316,832.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,885 shares of company stock valued at $1,683,266. 1.60% of the stock is currently owned by insiders.
Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 14th. The financial services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.27). Iron Mountain had a return on equity of 19.30% and a net margin of 8.60%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts forecast that Iron Mountain Inc will post 2.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were given a $0.611 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 106.09%.
IRM has been the subject of a number of recent analyst reports. Zacks Investment Research restated a “hold” rating and issued a $36.00 price objective on shares of Iron Mountain in a report on Monday, December 31st. Credit Suisse Group restated an “underperform” rating on shares of Iron Mountain in a report on Tuesday, February 19th. ValuEngine upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Mitsubishi UFJ Financial Group boosted their price objective on shares of Iron Mountain to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, February 20th. Finally, Robert W. Baird set a $34.00 price objective on shares of Iron Mountain and gave the stock a “hold” rating in a report on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Iron Mountain currently has a consensus rating of “Hold” and a consensus target price of $36.00.
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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