Iron Mountain Inc. (IRM) Sets New 1-Year High at $40.33
Iron Mountain Inc. (NYSE:IRM) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $40.33 and last traded at $40.20, with a volume of 529,783 shares changing hands. The stock had previously closed at $39.94.
IRM has been the topic of a number of recent analyst reports. Piper Jaffray Cos. reiterated a “buy” rating and issued a $43.00 price objective on shares of Iron Mountain in a report on Sunday, March 20th. Robert W. Baird reiterated a “neutral” rating on shares of Iron Mountain in a report on Friday, April 1st. Zacks Investment Research upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Wednesday, April 6th. Stifel Nicolaus upgraded Iron Mountain from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Monday, April 18th. Finally, TheStreet raised Iron Mountain from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Iron Mountain currently has a consensus rating of “Hold” and an average price target of $39.00.
The company has a market capitalization of $8.48 billion and a P/E ratio of 58.22. The firm has a 50 day moving average price of $37.69 and a 200-day moving average price of $32.51.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. During the same quarter in the prior year, the firm earned $0.50 EPS. The company had revenue of $749.30 million for the quarter, compared to analyst estimates of $756.85 million. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts predict that Iron Mountain Inc. will post $2.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Monday, June 6th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Thursday, June 2nd.
In other Iron Mountain news, EVP Ernest W. Cloutier sold 134,462 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $39.93, for a total transaction of $5,369,067.66. Following the transaction, the executive vice president now owns 38,622 shares in the company, valued at $1,542,176.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 315,178 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 36,987 shares in the company, valued at approximately $1,351,504.98. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently modified their holdings of IRM. Dimensional Fund Advisors LP boosted its position in shares of Iron Mountain by 37.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,476,199 shares of the company’s stock worth $66,885,000 after buying an additional 670,436 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Iron Mountain by 48.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 97,472 shares of the company’s stock worth $2,633,000 after buying an additional 31,839 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Iron Mountain during the fourth quarter worth about $2,913,000. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of Iron Mountain by 4.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 52,240 shares of the company’s stock worth $1,411,000 after buying an additional 2,125 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK raised its stake in shares of Iron Mountain by 24.4% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 36,767 shares of the company’s stock worth $1,150,000 after buying an additional 7,216 shares during the last quarter.
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.