SG Americas Securities LLC Makes New $6.14 Million Investment in Iron Mountain Inc (NYSE:IRM)

Share on StockTwits

SG Americas Securities LLC purchased a new position in shares of Iron Mountain Inc (NYSE:IRM) in the second quarter, Holdings Channel reports. The fund purchased 196,247 shares of the financial services provider’s stock, valued at approximately $6,143,000.

A number of other hedge funds have also made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Iron Mountain by 12.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,248,252 shares of the financial services provider’s stock valued at $39,070,000 after buying an additional 138,426 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Iron Mountain in the second quarter valued at $767,000. Ashburton Jersey Ltd acquired a new stake in shares of Iron Mountain in the second quarter valued at $76,000. Sumitomo Life Insurance Co. lifted its holdings in shares of Iron Mountain by 3.3% in the second quarter. Sumitomo Life Insurance Co. now owns 33,993 shares of the financial services provider’s stock valued at $1,064,000 after buying an additional 1,074 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Iron Mountain in the second quarter valued at $60,000. Institutional investors own 87.55% of the company’s stock.

Several brokerages have recently weighed in on IRM. TheStreet lowered Iron Mountain from a “b-” rating to a “c+” rating in a report on Tuesday, May 14th. ValuEngine lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Bank of America lowered Iron Mountain from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $33.00 to $25.00 in a research report on Thursday, July 11th. Finally, Robert W. Baird raised Iron Mountain from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $27.00 to $29.00 in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Iron Mountain has an average rating of “Hold” and a consensus price target of $35.08.

In related news, Director Walter C. Rakowich sold 2,024 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $31.47, for a total transaction of $63,695.28. Following the transaction, the director now directly owns 23,360 shares of the company’s stock, valued at $735,139.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by insiders.

Shares of Iron Mountain stock traded down $0.64 on Friday, reaching $30.58. 1,991,394 shares of the company were exchanged, compared to its average volume of 3,006,501. The business has a fifty day simple moving average of $30.84. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 3.66 and a beta of 0.59. The company has a debt-to-equity ratio of 6.06, a current ratio of 0.75 and a quick ratio of 0.75. Iron Mountain Inc has a fifty-two week low of $29.28 and a fifty-two week high of $37.32.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Iron Mountain had a return on equity of 19.65% and a net margin of 8.18%. Iron Mountain’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. As a group, research analysts anticipate that Iron Mountain Inc will post 2.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Monday, September 16th will be given a dividend of $0.611 per share. This represents a $2.44 annualized dividend and a yield of 7.99%. The ex-dividend date is Friday, September 13th. Iron Mountain’s payout ratio is 106.09%.

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 approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

Recommended Story: Intrinsic Value

Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Inc (NYSE:IRM).

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

Receive News & Ratings for Iron Mountain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iron Mountain and related companies with MarketBeat.com's FREE daily email newsletter.