Norinchukin Bank The grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,045 shares of the financial services provider’s stock after buying an additional 1,108 shares during the quarter. Norinchukin Bank The’s holdings in Iron Mountain were worth $586,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of IRM. BlackRock Inc. raised its position in shares of Iron Mountain by 3,761.9% during the 1st quarter. BlackRock Inc. now owns 18,027,691 shares of the financial services provider’s stock valued at $643,048,000 after buying an additional 17,560,886 shares in the last quarter. JPMorgan Chase & Co. raised its position in Iron Mountain by 180.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,490,008 shares of the financial services provider’s stock worth $53,149,000 after purchasing an additional 957,896 shares during the period. Victory Capital Management Inc. raised its position in Iron Mountain by 245.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,308,918 shares of the financial services provider’s stock worth $46,689,000 after purchasing an additional 929,555 shares during the period. Vanguard Group Inc. raised its position in Iron Mountain by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 43,247,671 shares of the financial services provider’s stock worth $1,542,644,000 after purchasing an additional 893,442 shares during the period. Finally, Bank of America Corp DE raised its position in Iron Mountain by 27.3% in the 1st quarter. Bank of America Corp DE now owns 4,029,077 shares of the financial services provider’s stock worth $143,718,000 after purchasing an additional 864,016 shares during the period. Hedge funds and other institutional investors own 87.46% of the company’s stock.
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A number of equities analysts recently commented on IRM shares. Deutsche Bank AG cut shares of Iron Mountain from a “hold” rating to a “sell” rating and decreased their target price for the stock from $41.00 to $30.00 in a research report on Wednesday, June 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a research report on Friday, June 9th. BidaskClub cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research cut shares of Iron Mountain from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Finally, Robert W. Baird set a $39.00 target price on shares of Iron Mountain and gave the stock a “hold” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.50.
Shares of Iron Mountain Incorporated (NYSE:IRM) opened at 39.72 on Thursday. Iron Mountain Incorporated has a 52 week low of $30.75 and a 52 week high of $40.44. The stock’s 50 day moving average is $38.47 and its 200-day moving average is $35.80. The company has a market cap of $10.50 billion, a price-to-earnings ratio of 54.49 and a beta of 0.92.
Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The company had revenue of $950.00 million for the quarter, compared to the consensus estimate of $955.05 million. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. On average, equities analysts anticipate that Iron Mountain Incorporated will post $1.18 earnings per share for the current year.
The business also recently declared 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 annualized dividend and a yield of 5.54%. The ex-dividend date of this dividend is Thursday, September 14th. Iron Mountain’s dividend payout ratio is presently 297.30%.
In related news, EVP John Tomovcsik sold 21,037 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $40.02, for a total value of $841,900.74. Following the transaction, the executive vice president now owns 62,379 shares of the company’s stock, valued at approximately $2,496,407.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 50,888 shares of company stock worth $1,976,840 in the last ninety days. 1.50% of the stock is currently owned by insiders.
Iron Mountain Company 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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