Stephens Inc. AR bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 87,275 shares of the financial services provider’s stock, valued at approximately $3,395,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of IRM. Cipher Capital LP bought a new position in Iron Mountain during the third quarter valued at $860,000. Ameriprise Financial Inc. lifted its position in Iron Mountain by 57.0% during the third quarter. Ameriprise Financial Inc. now owns 270,265 shares of the financial services provider’s stock valued at $10,522,000 after purchasing an additional 98,091 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Iron Mountain by 20.0% during the third quarter. Advisors Asset Management Inc. now owns 87,135 shares of the financial services provider’s stock valued at $3,390,000 after purchasing an additional 14,529 shares during the last quarter. Putnam FL Investment Management Co. bought a new position in Iron Mountain during the third quarter valued at $1,438,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Iron Mountain by 65.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 19,266 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 7,644 shares during the last quarter. 88.58% of the stock is owned by institutional investors.
In other Iron Mountain news, VP Patrick J. Keddy sold 23,428 shares of the firm’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $39.04, for a total transaction of $914,629.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Theodore Maclean sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $38.13, for a total transaction of $57,195.00. The disclosure for this sale can be found here. Insiders have sold a total of 48,379 shares of company stock valued at $1,911,241 in the last quarter. 1.50% of the stock is currently owned by company insiders.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Iron Mountain had a net margin of 5.54% and a return on equity of 15.49%. The company had revenue of $966.00 million during the quarter, compared to analyst estimates of $960.99 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. equities analysts predict that Iron Mountain Incorporated will post 2.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a dividend of $0.5875 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, December 14th. This represents a $2.35 dividend on an annualized basis and a yield of 5.74%. Iron Mountain’s dividend payout ratio (DPR) is presently 271.60%.
Several research firms have recently issued reports on IRM. ValuEngine upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Robert W. Baird raised their target price on shares of Iron Mountain from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Stifel Nicolaus restated a “buy” rating and issued a $43.00 target price (up previously from $40.00) on shares of Iron Mountain in a report on Friday, October 20th. Finally, Evercore ISI began coverage on shares of Iron Mountain in a report on Wednesday, October 18th. They issued an “outperform” rating and a $46.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Iron Mountain has a consensus rating of “Buy” and an average target price of $41.20.
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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