Janney Montgomery Scott LLC Has $1.44 Million Stake in Iron Mountain Incorporated (IRM)

Janney Montgomery Scott LLC lowered its stake in Iron Mountain Incorporated (NYSE:IRM) by 21.7% during the second quarter, Holdings Channel reports. The firm owned 41,831 shares of the financial services provider’s stock after selling 11,606 shares during the period. Janney Montgomery Scott LLC’s holdings in Iron Mountain were worth $1,437,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Glen Harbor Capital Management LLC raised its stake in Iron Mountain by 5.0% in the first quarter. Glen Harbor Capital Management LLC now owns 16,368 shares of the financial services provider’s stock valued at $584,000 after buying an additional 784 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Iron Mountain by 5.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,675 shares of the financial services provider’s stock valued at $223,000 after buying an additional 327 shares during the period. Concorde Asset Management LLC raised its stake in Iron Mountain by 46.7% in the first quarter. Concorde Asset Management LLC now owns 15,654 shares of the financial services provider’s stock valued at $549,000 after buying an additional 4,980 shares during the period. State of Alaska Department of Revenue raised its stake in Iron Mountain by 29.2% in the first quarter. State of Alaska Department of Revenue now owns 115,930 shares of the financial services provider’s stock valued at $4,134,000 after buying an additional 26,210 shares during the period. Finally, Moody National Bank Trust Division raised its stake in Iron Mountain by 2.8% in the first quarter. Moody National Bank Trust Division now owns 24,795 shares of the financial services provider’s stock valued at $884,000 after buying an additional 665 shares during the period. 86.04% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Incorporated (IRM) opened at 38.31 on Thursday. The firm has a market capitalization of $10.13 billion, a P/E ratio of 52.55 and a beta of 0.94. Iron Mountain Incorporated has a 12-month low of $30.75 and a 12-month high of $39.75. The firm has a 50 day moving average of $35.10 and a 200 day moving average of $35.36.

Iron Mountain (NYSE:IRM) last released its earnings results 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 company had revenue of $950 million for the quarter, compared to analysts’ expectations of $955.05 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts forecast that Iron Mountain Incorporated will post $1.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date is Thursday, September 14th. Iron Mountain’s dividend payout ratio is currently 297.30%.

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Several research firms have issued reports on IRM. BidaskClub raised shares of Iron Mountain from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. 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 lowered shares of Iron Mountain from a “hold” rating to a “sell” rating and dropped their price target for the stock from $41.00 to $30.00 in a research report on Wednesday, June 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 price target on shares of Iron Mountain in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $35.67.

In related news, Director Walter C. Rakowich sold 1,552 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $35.15, for a total value of $54,552.80. Following the sale, the director now directly owns 15,074 shares in the company, valued at approximately $529,851.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eileen Sweeney sold 2,100 shares of the business’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 completion of the sale, the senior vice president now owns 2,104 shares in the company, valued at $73,934.56. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

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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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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