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Chris Davis Continues Iron Mountain Reduction Streak, Sheds Another 4%
Posted by: Dianne Tordillo (IP Logged)
Date: December 17, 2012 05:15PM
Investing Guru Chris Davis, of Davis Selected Advisers, has eliminated more than 625,000 shares of information storage and management solutions company, Iron Mountain Inc. (IRM). This reduction slashed 4 percent off Davis’ stake on Dec. 7, according to GuruFocus Real Time Picks. The latest transaction brought Davis’ holding down to 14.6 million shares, which constitutes 7.7 percent of his outstanding shares, according to a 13D SEC filing.
Prior to this, Davis reported reducing his stake in November by 10 percent and in October by 9 percent. In the quarter ending Sept. 30, Davis receded in Iron Mountain by 22 percent.
This reduction streak started in August 2011, when Davis filed for a pocket-sized reduction of 0.93 percent, which was around the same time Iron Mountain’s share price started to trend positively, leading up to its peak price in October for the year of about $37. Since that month, Davis has decreased the stake 9 separate times.
Currently, Iron Mountain has deflated down from its peak to $30.95. It has delivered 0.45 percent in market value.
With its market cap of $5.41 billion, Iron Mountain operates 1,000 facilities in 32 countries. Its services include records management, data backup and recovery, document management and secure shredding.
GuruFocus ranks Iron Mountain 4 stars in Business Predictability. It has a 10.2 revenue growth percentage and a 9.5 EBITDA growth percentage within the last 12 months, based off of its 10-Year Financials.
The company has a dividend yield of 3.4 percent, a Financial Strength of 4 and a Profitability and Growth rank of 7.
Besides Davis, other Gurus who have holding of Iron Mountain are RS Investment Management, Joel Greenblatt and John Keeley. Visit IRM:Guru Trade for a complete list of its holding history with other money managers.
Read more about Chris Davis’ previous IRM reduction at Chris Davis Shrinks Iron Mountain Ownership to 8.8%. View the rest of Chris Davis’ portfolio updates here.
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Guru Discussed: Chris Davis: Current Portfolio, Stock Picks
Stocks Discussed: IRM,