Retireful LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,602 shares of the financial services provider's stock, valued at approximately $267,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cranbrook Wealth Management LLC bought a new position in Iron Mountain in the 1st quarter valued at approximately $26,000. Financial Network Wealth Advisors LLC bought a new position in Iron Mountain in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC bought a new position in Iron Mountain in the 1st quarter valued at approximately $30,000. Ramirez Asset Management Inc. bought a new position in Iron Mountain in the 1st quarter valued at approximately $34,000. Finally, Wayfinding Financial LLC bought a new position in Iron Mountain in the 1st quarter valued at approximately $37,000. Institutional investors own 80.13% of the company's stock.
Insider Activity
In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the completion of the sale, the executive vice president directly owned 79,081 shares in the company, valued at $7,200,325.05. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total transaction of $6,190,835.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,709 shares of company stock valued at $22,555,809. 1.90% of the stock is owned by corporate insiders.
Iron Mountain Stock Performance
Shares of NYSE IRM opened at $101.35 on Thursday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The firm has a 50 day moving average price of $95.31 and a two-hundred day moving average price of $94.04. The stock has a market cap of $29.93 billion, a P/E ratio of 723.98 and a beta of 1.08.
Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the company posted $1.08 EPS. The company's revenue was up 11.6% on a year-over-year basis. Analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.
Iron Mountain Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a dividend of $0.785 per share. The ex-dividend date is Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.1%. Iron Mountain's dividend payout ratio is 2,242.86%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Finally, Jefferies Financial Group started coverage on shares of Iron Mountain in a research note on Monday. They issued a "buy" rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat.com, Iron Mountain has an average rating of "Buy" and a consensus target price of $116.83.
Check Out Our Latest Report on Iron Mountain
Iron Mountain Profile
(
Free Report)
Iron Mountain Incorporated NYSE: IRM is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.
See Also
Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRM - Free Report).
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