Toronto Dominion Bank boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 19.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,722 shares of the financial services provider’s stock after purchasing an additional 16,452 shares during the period. Toronto Dominion Bank’s holdings in Iron Mountain were worth $3,878,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Iron Mountain by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,249 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 56 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Iron Mountain by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,200 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 100 shares during the last quarter. Trust Investment Advisors grew its position in Iron Mountain by 0.3% during the 2nd quarter. Trust Investment Advisors now owns 37,090 shares of the financial services provider’s stock worth $1,274,000 after purchasing an additional 115 shares during the last quarter. Creative Planning grew its position in Iron Mountain by 4.6% during the 2nd quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 134 shares during the last quarter. Finally, Moors & Cabot Inc. grew its position in Iron Mountain by 2.2% during the 2nd quarter. Moors & Cabot Inc. now owns 9,091 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 200 shares during the last quarter. 88.58% of the stock is currently owned by institutional investors.
In related news, EVP John Tomovcsik sold 21,037 shares of the business’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 transaction, the executive vice president now directly owns 62,379 shares in the company, valued at approximately $2,496,407.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Theodore Maclean sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $40.60, for a total transaction of $60,900.00. Following the completion of the transaction, the vice president now owns 8,679 shares of the company’s stock, valued at $352,367.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,379 shares of company stock valued at $1,911,241. Company insiders own 1.50% of the company’s stock.
Iron Mountain (NYSE:IRM) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Iron Mountain had a net margin of 5.54% and a return on equity of 15.49%. The firm had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $960.99 million. During the same period in the previous year, the business posted $0.44 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. sell-side analysts predict that Iron Mountain Incorporated will post 2.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.5875 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.55. This represents a $2.35 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend is Thursday, December 14th. Iron Mountain’s payout ratio is currently 271.60%.
IRM has been the topic of several research analyst reports. BidaskClub downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Robert W. Baird set a $39.00 price objective on shares of Iron Mountain and gave the company a “hold” rating in a report on Friday, August 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Iron Mountain in a report on Sunday, September 3rd. Finally, Evercore ISI assumed coverage on shares of Iron Mountain in a report on Wednesday, October 18th. They issued an “outperform” rating and a $46.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $41.20.
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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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