Wellington Shields Capital Management LLC Takes Position in Iron Mountain Inc (IRM)

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Wellington Shields Capital Management LLC acquired a new stake in Iron Mountain Inc (NYSE:IRM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,900 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IRM. Dimensional Fund Advisors LP raised its stake in shares of Iron Mountain by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,023,813 shares of the financial services provider’s stock worth $140,871,000 after purchasing an additional 99,620 shares during the last quarter. River Road Asset Management LLC raised its stake in shares of Iron Mountain by 4.3% during the second quarter. River Road Asset Management LLC now owns 2,665,354 shares of the financial services provider’s stock worth $93,314,000 after purchasing an additional 111,077 shares during the last quarter. Raymond James & Associates raised its stake in shares of Iron Mountain by 4.4% during the second quarter. Raymond James & Associates now owns 2,468,404 shares of the financial services provider’s stock worth $86,419,000 after purchasing an additional 105,108 shares during the last quarter. Makaira Partners LLC raised its stake in shares of Iron Mountain by 0.7% during the second quarter. Makaira Partners LLC now owns 1,829,944 shares of the financial services provider’s stock worth $64,066,000 after purchasing an additional 13,370 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in shares of Iron Mountain by 21.7% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,787,952 shares of the financial services provider’s stock worth $62,596,000 after purchasing an additional 319,006 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

Iron Mountain stock opened at $32.77 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 4.18. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 15.09 and a beta of 0.77. Iron Mountain Inc has a fifty-two week low of $30.22 and a fifty-two week high of $41.53.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, October 25th. The financial services provider reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Iron Mountain had a return on equity of 14.71% and a net margin of 5.49%. Equities analysts predict that Iron Mountain Inc will post 2.13 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Monday, December 17th will be issued a $0.611 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, December 14th. This represents a $2.44 annualized dividend and a yield of 7.46%. Iron Mountain’s dividend payout ratio is 110.33%.

Several equities research analysts have recently commented on the company. Berenberg Bank began coverage on Iron Mountain in a research note on Thursday, September 20th. They set a “buy” rating and a $52.00 price target for the company. Credit Suisse Group began 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. Zacks Investment Research upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Barclays cut their price objective on Iron Mountain from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 30th. Finally, Stifel Nicolaus cut Iron Mountain from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $34.00 in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $37.50.

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Iron Mountain 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.

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

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