Welch Forbes Lowers stake in Iron Mountain Inc (IRM)

Iron Mountain Inc (IRM) : Welch Forbes reduced its stake in Iron Mountain Inc by 2.21% during the most recent quarter end. The investment management company now holds a total of 1,207,100 shares of Iron Mountain Inc which is valued at $48,573,704 after selling 27,267 shares in Iron Mountain Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Iron Mountain Inc makes up approximately 1.44% of Welch Forbes’s portfolio.

Other Hedge Funds, Including , Armbruster Capital Management added IRM to its portfolio by purchasing 162 company shares during the most recent quarter which is valued at $6,676.Tokio Marine Asset Management Co Ltd boosted its stake in IRM in the latest quarter, The investment management firm added 658 additional shares and now holds a total of 9,738 shares of Iron Mountain Inc which is valued at $399,258. Iron Mountain Inc makes up approx 0.04% of Tokio Marine Asset Management Co Ltd’s portfolio.Retirement Systems Of Alabama boosted its stake in IRM in the latest quarter, The investment management firm added 22,590 additional shares and now holds a total of 121,852 shares of Iron Mountain Inc which is valued at $4,995,932. Iron Mountain Inc makes up approx 0.03% of Retirement Systems Of Alabama’s portfolio.Oakbrook Investments boosted its stake in IRM in the latest quarter, The investment management firm added 4,600 additional shares and now holds a total of 15,050 shares of Iron Mountain Inc which is valued at $617,953. Iron Mountain Inc makes up approx 0.03% of Oakbrook Investments’s portfolio.

Iron Mountain Inc closed down -0.99 points or -2.62% at $36.79 with 25,95,766 shares getting traded on Monday. Post opening the session at $37.79, the shares hit an intraday low of $36.65 and an intraday high of $37.79 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Iron Mountain Inc reported $0.47 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.52. The company had revenue of $884.00 million for the quarter, compared to analysts expectations of $884.45 million. The company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Investors should note that on Jul 27, 2016, Iron Mountain Inc announced a cash dividend of $0.4850. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 14, 2016.

Iron Mountain Inc. is a holding company which stores records primarily paper documents and data backup media and provide information management services. The Company has five segments: North American Records and Information Management Business North American Data Management Business Western European Business Other International Business and Corporate and Other Business. It offers records and information management services and data management services. Its customer base includes commercial legal banking healthcare accounting insurance entertainment and government organizations. As of December 31 2014 the Company’s courier fleet consisted of approximately 3600 owned or leased vehicles. Its other services include secure shredding document management solutions (DMS) compliant records management and consulting services health information storage and management solutions entertainment services energy data services discovery services and other ancillary services.

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