Tdam USA Inc. Cuts Holdings in Iron Mountain Incorporated (NYSE:IRM)

Tdam USA Inc. decreased its position in Iron Mountain Incorporated (NYSE:IRMGet Rating) by 11.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 204,882 shares of the financial services provider’s stock after selling 25,596 shares during the period. Tdam USA Inc.’s holdings in Iron Mountain were worth $10,721,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in Iron Mountain by 16.2% in the fourth quarter. Raymond James & Associates now owns 444,086 shares of the financial services provider’s stock valued at $23,239,000 after buying an additional 61,800 shares in the last quarter. AXA S.A. increased its holdings in Iron Mountain by 8.5% in the third quarter. AXA S.A. now owns 551,800 shares of the financial services provider’s stock valued at $23,976,000 after buying an additional 43,400 shares in the last quarter. Yousif Capital Management LLC purchased a new position in Iron Mountain in the fourth quarter valued at $3,035,000. IndexIQ Advisors LLC increased its holdings in Iron Mountain by 5.1% in the third quarter. IndexIQ Advisors LLC now owns 4,963 shares of the financial services provider’s stock valued at $216,000 after buying an additional 242 shares in the last quarter. Finally, Stonnington Group LLC purchased a new stake in shares of Iron Mountain during the fourth quarter worth about $514,000. 78.62% of the stock is owned by institutional investors.

In related news, CAO Daniel Borges sold 2,470 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $46.52, for a total transaction of $114,904.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John Tomovcsik sold 6,218 shares of the company’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $56.11, for a total transaction of $348,891.98. Following the sale, the chief operating officer now directly owns 56,000 shares in the company, valued at $3,142,160. The disclosure for this sale can be found here. Insiders sold a total of 118,999 shares of company stock worth $6,015,205 over the last quarter. 2.10% of the stock is currently owned by company insiders.

IRM traded down $1.51 on Tuesday, reaching $51.50. 2,036,444 shares of the company’s stock were exchanged, compared to its average volume of 2,161,706. The stock has a market cap of $14.96 billion, a PE ratio of 33.66 and a beta of 0.82. Iron Mountain Incorporated has a twelve month low of $40.53 and a twelve month high of $58.61. The stock’s fifty day moving average price is $53.50 and its 200-day moving average price is $49.29. The company has a debt-to-equity ratio of 13.37, a current ratio of 0.90 and a quick ratio of 0.90.

Iron Mountain (NYSE:IRMGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.32). The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. Iron Mountain had a return on equity of 49.70% and a net margin of 9.59%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. As a group, research analysts predict that Iron Mountain Incorporated will post 3.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, July 16th. Shareholders of record on Wednesday, June 15th will be issued a $0.618 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $2.47 annualized dividend and a yield of 4.80%. Iron Mountain’s payout ratio is 161.44%.

A number of analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Iron Mountain in a research note on Thursday, March 31st. They set a “hold” rating for the company. Credit Suisse Group boosted their target price on shares of Iron Mountain from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Friday, February 25th. Finally, Stifel Nicolaus boosted their target price on shares of Iron Mountain from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, April 12th.

Iron Mountain Profile (Get Rating)

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 90 million square feet across approximately 1,450 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.

See Also

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

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