Vanguard Group Inc. Acquires 151,039 Shares of Iron Mountain Incorporated (IRM)
Vanguard Group Inc. increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,398,710 shares of the financial services provider’s stock after buying an additional 151,039 shares during the period. Vanguard Group Inc. owned about 16.41% of Iron Mountain worth $1,491,180,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in IRM. Creative Planning boosted its position in shares of Iron Mountain by 4.6% in the 2nd quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock worth $105,000 after buying an additional 134 shares in the last quarter. Pacer Advisors Inc. raised its stake in Iron Mountain by 3.4% in the 1st quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 121 shares during the last quarter. Soros Fund Management LLC acquired a new position in Iron Mountain in the 1st quarter valued at about $203,000. CIBC World Markets Inc. acquired a new position in Iron Mountain in the 2nd quarter valued at about $203,000. Finally, Penserra Capital Management LLC raised its stake in Iron Mountain by 7.5% in the 2nd quarter. Penserra Capital Management LLC now owns 6,019 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 422 shares during the last quarter. Institutional investors and hedge funds own 87.46% of the company’s stock.
Several brokerages recently weighed in on IRM. Zacks Investment Research raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub raised shares of Iron Mountain from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a research note on Friday, June 9th. Robert W. Baird set a $39.00 target price on shares of Iron Mountain and gave the company a “hold” rating in a research note on Friday, August 25th. Finally, Deutsche Bank AG downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating and cut their target price for the company from $41.00 to $30.00 in a research note on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.50.
Iron Mountain Incorporated (NYSE:IRM) opened at 40.13 on Friday. The stock’s 50 day moving average is $38.47 and its 200-day moving average is $35.80. Iron Mountain Incorporated has a 1-year low of $30.75 and a 1-year high of $40.64. The firm has a market cap of $10.61 billion, a P/E ratio of 55.05 and a beta of 0.92.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $950.00 million during the quarter, compared to analyst estimates of $955.05 million. During the same period last year, the company posted $0.24 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts forecast that Iron Mountain Incorporated will post $1.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders 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 dividend on an annualized basis and a yield of 5.48%. Iron Mountain’s payout ratio is presently 297.30%.
In other news, EVP John Tomovcsik sold 21,037 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $40.02, for a total transaction of $841,900.74. Following the completion of the sale, the executive vice president now directly owns 62,379 shares of the company’s stock, valued at approximately $2,496,407.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 50,888 shares of company stock valued at $1,976,840 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
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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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