Russell Investments Group Ltd. Acquires 557 Shares of Iron Mountain Incorporated (IRM)
Russell Investments Group Ltd. increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,534 shares of the financial services provider’s stock after purchasing an additional 557 shares during the period. Russell Investments Group Ltd.’s holdings in Iron Mountain were worth $843,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Iron Mountain by 180.0% during the first quarter. JPMorgan Chase & Co. now owns 1,490,008 shares of the financial services provider’s stock valued at $53,149,000 after acquiring an additional 957,896 shares during the last quarter. Clinton Group Inc. purchased a new stake in Iron Mountain during the first quarter valued at approximately $1,477,000. LS Investment Advisors LLC lifted its position in Iron Mountain by 12.9% during the first quarter. LS Investment Advisors LLC now owns 10,085 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 1,156 shares during the last quarter. Webster Bank N. A. lifted its position in Iron Mountain by 57.4% during the second quarter. Webster Bank N. A. now owns 31,661 shares of the financial services provider’s stock valued at $1,088,000 after acquiring an additional 11,548 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its position in Iron Mountain by 12.5% during the first quarter. State of Wisconsin Investment Board now owns 251,031 shares of the financial services provider’s stock valued at $8,954,000 after acquiring an additional 27,989 shares during the last quarter. 87.48% of the stock is owned by institutional investors.
In related news, EVP John Tomovcsik sold 21,037 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.02, for a total value of $841,900.74. Following the completion of the sale, the executive vice president now owns 62,379 shares in the company, valued at approximately $2,496,407.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 50,888 shares of company stock valued at $1,976,840. 1.50% of the stock is owned by insiders.
IRM has been the subject of a number of analyst reports. BidaskClub raised shares of Iron Mountain from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Deutsche Bank AG cut shares of Iron Mountain from a “hold” rating to a “sell” rating and decreased their target price for the company from $41.00 to $30.00 in a research report on Wednesday, June 7th. Robert W. Baird set a $39.00 target price on shares of Iron Mountain and gave the company a “hold” rating in a research report on Friday, August 25th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $40.00 target price on shares of Iron Mountain in a research report on Sunday, September 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $36.50.
Iron Mountain Incorporated (IRM) traded up 1.034% during midday trading on Friday, reaching $39.555. 702,534 shares of the company were exchanged. The company has a market capitalization of $10.46 billion, a PE ratio of 54.259 and a beta of 0.92. The firm has a 50-day moving average price of $38.12 and a 200-day moving average price of $35.74. Iron Mountain Incorporated has a 52 week low of $30.75 and a 52 week high of $40.44.
Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. The firm had revenue of $950.00 million during the quarter, compared to the consensus estimate of $955.05 million. During the same quarter in the prior year, the firm earned $0.24 EPS. Iron Mountain’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts anticipate that Iron Mountain Incorporated will post $1.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a $0.55 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.20 annualized dividend and a yield of 5.62%. Iron Mountain’s dividend payout ratio (DPR) is 297.30%.
Iron Mountain Profile
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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