MML Investors Services LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,024 shares of the financial services provider’s stock, valued at approximately $241,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in Iron Mountain by 4.6% during the second quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 134 shares during the period. Pacer Advisors Inc. grew its position in shares of Iron Mountain by 3.4% in the first quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 121 shares during the last quarter. Soros Fund Management LLC acquired a new stake in shares of Iron Mountain in the first quarter valued at about $203,000. CIBC World Markets Inc. acquired a new stake in shares of Iron Mountain in the second quarter valued at about $203,000. Finally, Penserra Capital Management LLC grew its position in shares of Iron Mountain by 7.5% in the second quarter. Penserra Capital Management LLC now owns 6,019 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 422 shares during the last quarter. 87.46% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP John Tomovcsik sold 21,037 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $40.02, for a total transaction of $841,900.74. Following the transaction, the executive vice president now directly owns 62,379 shares of the company’s stock, valued at approximately $2,496,407.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 51,401 shares of company stock worth $1,997,617 over the last three months. 1.50% of the stock is owned by insiders.
Iron Mountain Incorporated (NYSE:IRM) opened at 38.95 on Wednesday. The company’s 50-day moving average is $39.03 and its 200 day moving average is $36.13. Iron Mountain Incorporated has a 1-year low of $30.75 and a 1-year high of $40.64. The firm has a market capitalization of $10.30 billion, a PE ratio of 53.43 and a beta of 0.91.
Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The company had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $955.05 million. During the same period last year, the firm posted $0.24 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts expect that Iron Mountain Incorporated will post $1.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, September 14th. This represents a $2.20 annualized dividend and a dividend yield of 5.65%. Iron Mountain’s dividend payout ratio is currently 297.30%.
A number of equities analysts have recently commented on IRM shares. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday. Stifel Nicolaus restated a “buy” rating and set a $40.00 target price on shares of Iron Mountain in a research note on Sunday, September 3rd. Robert W. Baird set a $39.00 target price on Iron Mountain and gave the company a “hold” rating in a research note on Friday, August 25th. Finally, BidaskClub raised Iron Mountain from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $36.50.
Iron Mountain Company Profile
Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.
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