Iron Mountain Inc. (IRM) Director Sells $53,245.12 in Stock
Iron Mountain Inc. (NYSE:IRM) Director Walter C. Rakowich sold 1,466 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.32, for a total value of $53,245.12. Following the completion of the sale, the director now directly owns 7,130 shares in the company, valued at $258,961.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Iron Mountain Inc. (NYSE:IRM) opened at 36.49 on Tuesday. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 103.37 and a beta of 0.67. Iron Mountain Inc. has a 12-month low of $23.64 and a 12-month high of $41.50. The stock’s 50 day moving average is $37.77 and its 200 day moving average is $36.74.
Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.05. The business had revenue of $883.70 million for the quarter, compared to analysts’ expectations of $884.46 million. Iron Mountain had a net margin of 2.51% and a return on equity of 26.91%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. Equities analysts predict that Iron Mountain Inc. will post $2.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 12th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 5.32%. The ex-dividend date is Thursday, September 8th. Iron Mountain’s dividend payout ratio is 510.54%.
Several brokerages have commented on IRM. TheStreet lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Piper Jaffray Cos. restated a “buy” rating and issued a $44.00 price objective on shares of Iron Mountain in a report on Friday, June 17th. Zacks Investment Research lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of Iron Mountain from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $44.00 price objective on shares of Iron Mountain in a report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $41.00.
Several hedge funds have recently made changes to their positions in IRM. Geode Capital Management LLC boosted its stake in shares of Iron Mountain by 2.4% in the first quarter. Geode Capital Management LLC now owns 1,612,917 shares of the company’s stock valued at $54,584,000 after buying an additional 37,165 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Iron Mountain by 25.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 204,179 shares of the company’s stock valued at $8,133,000 after buying an additional 41,775 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Iron Mountain during the first quarter valued at approximately $234,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Iron Mountain during the first quarter valued at approximately $3,731,000. Finally, Makaira Partners LLC purchased a new position in shares of Iron Mountain during the first quarter valued at approximately $104,016,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.
About Iron Mountain
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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