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Sally Jones
Sally Jones
Articles (580) 

Third Generation Value Investor Chris Davis Shreds Iron Mountain

April 23, 2013 | About:

Guru Chris Davis of Davis Selected Advisors has reduced his position in Iron Mountain Inc. (IRM) by 14.81%, as of April 18, 2013. He traded in the price range of $36.5 per share, making a 0.17% impact to his portfolio. The current share price is $36.81 with a change from average up 1%. After the trade Davis holds 10,510,502 shares of the secure information storage and management company, with 5.53% shares outstanding.

Davis has a long trading history with IRM, and has made only positive gains in every consecutive quarter since he first bought in second quarter 2008. His average price for over 4 million shares bought is $27.11 for a 35% gain, and for over 32 million shares sold, his average price is $30.59 for a 19% gain.

His holding history:

Iron Mountain has 1,000 facilities in 32 countries, with five operating segments: North American Physical Business, Worldwide Digital Business, Europe, Latin America and Asia Pacific. Company services include records management, data backup and recovery, document management and secure document shredding.

Guru Davis has been on an IRM reducing streak that started in August 2011 when he sliced his position by 0.93%. After Iron Mountain’s share price spiked in October around $32, Davis reduced his position in every quarter since third quarter 2011.

Iron Mountain Inc. (NYSE:IRM) is up 22% over the last 12 months. With a market cap of $6.91 billion, Iron Mountain’s net income has dropped significantly from $395.5 million in 2011 to $171.7 million in 2012. The company will announce first quarter 2013 financial results on May 1, 2013. The company lists a P/E of 36.9, a P/B of 6.1, and a P/S ratio of 2.1. GuruFocus currently ranks Iron Mountain 3 stars in Business Predictability.

Iron Mountain has a 10% revenue growth (annual rate per share) and a 9.3% EBITDA growth over the last 12 months, based off of its 10-Year Financials. Here are the company’s earnings per share:

Davis Advisors manages more than $60 billion across several different asset classes. Chris Davis is the portfolio manager of Davis Financial Fund. In the recently updated portfolio, Davis lists 197 stocks, nine of them new, with a total value of $3.8 billion, and a quarter-over-quarter turnover of 1%.

His top buys, sells, and holdings:

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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 5.0/5 (2 votes)


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GuruFocus has detected 5 Warning Signs with Iron Mountain Inc $IRM.
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