Yorktown Management & Research Co Inc purchased a new position in shares of Iron Mountain Inc (NYSE:IRM) in the second quarter, HoldingsChannel.com reports. The fund purchased 19,100 shares of the financial services provider’s stock, valued at approximately $598,000.
Several other institutional investors and hedge funds have also bought and sold shares of IRM. Mcmillion Capital Management Inc. bought a new stake in shares of Iron Mountain during the second quarter worth approximately $31,000. Valeo Financial Advisors LLC raised its stake in shares of Iron Mountain by 194.2% during the second quarter. Valeo Financial Advisors LLC now owns 1,062 shares of the financial services provider’s stock worth $33,000 after buying an additional 701 shares during the last quarter. Executive Wealth Management LLC raised its stake in shares of Iron Mountain by 96.9% during the first quarter. Executive Wealth Management LLC now owns 1,014 shares of the financial services provider’s stock worth $36,000 after buying an additional 499 shares during the last quarter. Bremer Bank National Association bought a new stake in shares of Iron Mountain during the first quarter worth approximately $36,000. Finally, Secrest Blakey & Associates LLC bought a new stake in shares of Iron Mountain during the first quarter worth approximately $37,000. 87.29% of the stock is owned by institutional investors and hedge funds.
IRM has been the subject of a number of analyst reports. Robert W. Baird upgraded shares of Iron Mountain from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $27.00 to $29.00 in a report on Friday, August 2nd. Bank of America cut shares of Iron Mountain from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $33.00 to $25.00 in a report on Thursday, July 11th. TheStreet cut shares of Iron Mountain from a “b-” rating to a “c+” rating in a report on Tuesday, May 14th. Zacks Investment Research cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, ValuEngine cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Iron Mountain has a consensus rating of “Hold” and a consensus price target of $35.08.
In other news, Director Walter C. Rakowich sold 2,024 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $31.47, for a total value of $63,695.28. Following the completion of the transaction, the director now owns 23,360 shares in the company, valued at $735,139.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.
NYSE IRM traded up $0.50 during trading on Friday, reaching $31.49. 1,959,300 shares of the stock traded hands, compared to its average volume of 2,759,030. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. The stock’s 50-day moving average price is $30.76 and its 200 day moving average price is $33.12. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 6.06. Iron Mountain Inc has a fifty-two week low of $29.28 and a fifty-two week high of $37.32.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.03. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Iron Mountain had a net margin of 8.18% and a return on equity of 19.65%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share. Analysts anticipate that Iron Mountain Inc will post 2.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Monday, September 16th will be issued a $0.611 dividend. This represents a $2.44 annualized dividend and a dividend yield of 7.76%. The ex-dividend date is Friday, September 13th. Iron Mountain’s dividend payout ratio (DPR) is presently 106.09%.
Iron Mountain Profile
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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