Iron Mountain Incorporated (NYSE:IRM) Stake Reduced by US Bancorp DE
US Bancorp DE lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 2.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 41,380 shares of the financial services provider’s stock after selling 999 shares during the period. US Bancorp DE’s holdings in Iron Mountain were worth $1,422,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Ledyard National Bank bought a new position in shares of Iron Mountain during the first quarter worth about $108,000. Creative Planning boosted its position in shares of Iron Mountain by 4.6% in the second quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock worth $105,000 after buying an additional 134 shares during the period. Pacer Advisors Inc. boosted 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 worth $131,000 after buying an additional 121 shares during the period. Trust Department MB Financial Bank N A bought a new position in shares of Iron Mountain during the first quarter worth about $178,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Iron Mountain by 11.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,309 shares of the financial services provider’s stock worth $189,000 after buying an additional 550 shares during the period. Hedge funds and other institutional investors own 86.36% of the company’s stock.
Iron Mountain Incorporated (IRM) traded down 1.07% during trading on Friday, hitting $37.00. The stock had a trading volume of 1,056,657 shares. The stock has a 50 day moving average of $34.60 and a 200 day moving average of $35.24. The firm has a market capitalization of $9.78 billion, a P/E ratio of 50.75 and a beta of 0.94. Iron Mountain Incorporated has a one year low of $30.75 and a one year high of $40.54.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.55 earnings per share for the quarter, beating the 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 million during the quarter, compared to analysts’ expectations of $955.05 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts expect that Iron Mountain Incorporated will post $1.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.20 annualized dividend and a dividend yield of 5.95%. Iron Mountain’s payout ratio is 297.30%.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub upgraded Iron Mountain from a “hold” rating to a “buy” rating in a report on Friday. Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price objective on shares of Iron Mountain in a report on Friday, June 9th. Finally, Deutsche Bank AG cut Iron Mountain from a “hold” rating to a “sell” rating and cut their price objective for the company from $41.00 to $30.00 in a report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Iron Mountain has a consensus rating of “Hold” and an average target price of $35.67.
In related news, Director Walter C. Rakowich sold 1,552 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $35.15, for a total transaction of $54,552.80. Following the sale, the director now owns 15,074 shares in the company, valued at approximately $529,851.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Eileen Sweeney sold 2,100 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $35.14, for a total value of $73,794.00. Following the sale, the senior vice president now owns 2,104 shares in the company, valued at approximately $73,934.56. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate 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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