Traders Sell Iron Mountain Inc. (IRM) on Strength (IRM)
Investors sold shares of Iron Mountain Inc. (NYSE:IRM) on strength during trading hours on Friday. $16.15 million flowed into the stock on the tick-up and $66.59 million flowed out of the stock on the tick-down, for a money net flow of $50.44 million out of the stock. Of all equities tracked, Iron Mountain had the 0th highest net out-flow for the day. Iron Mountain traded up $0.57 for the day and closed at $39.85
IRM has been the subject of several recent research reports. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Iron Mountain in a research note on Sunday, March 20th. Robert W. Baird reaffirmed a “neutral” rating on shares of Iron Mountain in a research note on Friday, April 1st. Zacks Investment Research raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th. Stifel Nicolaus raised Iron Mountain from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Monday, April 18th. Finally, TheStreet upgraded Iron Mountain from a “hold” rating to a “buy” rating in a report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Iron Mountain presently has an average rating of “Hold” and an average target price of $39.00.
The firm has a market cap of $8.45 billion and a PE ratio of 58.01. The stock has a 50-day moving average price of $37.87 and a 200-day moving average price of $32.65.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.04. The firm had revenue of $749.30 million for the quarter, compared to analysts’ expectations of $756.85 million. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. On average, equities analysts anticipate that Iron Mountain Inc. will post $2.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Monday, June 6th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.87%.
In other Iron Mountain news, EVP Ernest W. Cloutier sold 134,462 shares of Iron Mountain stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $39.93, for a total value of $5,369,067.66. Following the transaction, the executive vice president now directly owns 38,622 shares of the company’s stock, valued at approximately $1,542,176.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 315,178 shares of Iron Mountain stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $36.54, for a total value of $11,516,604.12. Following the completion of the transaction, the chief executive officer now directly owns 36,987 shares in the company, valued at $1,351,504.98. The disclosure for this sale can be found here.
A number of institutional investors recently made changes to their positions in the company. Morgan Stanley boosted its position in shares of Iron Mountain by 13.6% in the fourth quarter. Morgan Stanley now owns 570,994 shares of the company’s stock worth $15,423,000 after buying an additional 68,498 shares during the period. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of Iron Mountain by 1.9% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 355,012 shares of the company’s stock worth $9,791,000 after buying an additional 6,625 shares during the period. Vanguard Group Inc. boosted its position in shares of Iron Mountain by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 30,793,809 shares of the company’s stock worth $831,740,000 after buying an additional 1,515,161 shares during the period. Stevens Capital Management LP boosted its position in shares of Iron Mountain by 2,347.0% in the fourth quarter. Stevens Capital Management LP now owns 236,255 shares of the company’s stock worth $6,381,000 after buying an additional 226,600 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of Iron Mountain by 62.4% in the fourth quarter. ProShare Advisors LLC now owns 141,171 shares of the company’s stock worth $3,813,000 after buying an additional 54,220 shares during the period.
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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