Iron Mountain Inc. (IRM) Stake Raised by Princeton Capital Management Inc.
Princeton Capital Management Inc. raised its position in shares of Iron Mountain Inc. (NYSE:IRM) by 43.2% during the second quarter, Holdings Channel reports. The institutional investor owned 8,997 shares of the company’s stock after buying an additional 2,715 shares during the period. Princeton Capital Management Inc.’s holdings in Iron Mountain were worth $358,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in IRM. JNBA Financial Advisors increased its position in shares of Iron Mountain by 421.2% in the second quarter. JNBA Financial Advisors now owns 2,653 shares of the company’s stock worth $106,000 after buying an additional 2,144 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Iron Mountain by 11.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,555 shares of the company’s stock worth $142,000 after buying an additional 351 shares in the last quarter. Breton Hill Capital Ltd. acquired a new position in shares of Iron Mountain during the second quarter worth approximately $207,000. Franklin Resources Inc. acquired a new position in shares of Iron Mountain during the first quarter worth approximately $234,000. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of Iron Mountain during the first quarter worth approximately $257,000. Institutional investors own 80.96% of the company’s stock.
Iron Mountain Inc. (NYSE:IRM) traded up 0.30% during midday trading on Tuesday, hitting $36.60. The stock had a trading volume of 1,387,127 shares. The stock has a market cap of $9.63 billion, a PE ratio of 103.68 and a beta of 0.67. Iron Mountain Inc. has a 52-week low of $23.64 and a 52-week high of $41.50. The company’s 50 day moving average price is $37.64 and its 200-day moving average price is $36.79.
Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 4th. The company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.05. The company earned $883.70 million during the quarter, compared to analysts’ expectations of $884.46 million. Iron Mountain had a return on equity of 26.91% and a net margin of 2.51%. Iron Mountain’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. Analysts forecast that Iron Mountain Inc. will post $2.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 12th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date is Thursday, September 8th. Iron Mountain’s dividend payout ratio (DPR) is 510.54%.
A number of equities analysts recently commented on IRM shares. Zacks Investment Research upgraded Iron Mountain from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Tuesday, June 21st. Piper Jaffray Cos. restated a “buy” rating and set a $44.00 target price on shares of Iron Mountain in a report on Friday, June 17th. Stifel Nicolaus restated a “buy” rating and set a $44.00 target price on shares of Iron Mountain in a report on Tuesday, September 13th. TheStreet downgraded Iron Mountain from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, JPMorgan Chase & Co. upped their price target on Iron Mountain from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.00.
In other news, VP Edward Bicks sold 2,773 shares of Iron Mountain stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $36.32, for a total value of $100,715.36. Following the completion of the transaction, the vice president now owns 914 shares in the company, valued at approximately $33,196.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Walter C. Rakowich sold 1,466 shares of Iron Mountain stock in a transaction that occurred on 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 transaction, the director now owns 7,130 shares of the company’s stock, valued at approximately $258,961.60. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.
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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