Sigma Planning Corp raised its holdings in shares of Iron Mountain Inc (NYSE:IRM) by 12.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,873 shares of the financial services provider’s stock after acquiring an additional 4,551 shares during the quarter. Sigma Planning Corp’s holdings in Iron Mountain were worth $1,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Iron Mountain by 37.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 147,070 shares of the financial services provider’s stock worth $4,603,000 after acquiring an additional 39,800 shares during the last quarter. Baldwin Brothers Inc. MA purchased a new position in shares of Iron Mountain during the 1st quarter worth $44,000. Bank of Montreal Can boosted its stake in shares of Iron Mountain by 6.6% during the 1st quarter. Bank of Montreal Can now owns 345,648 shares of the financial services provider’s stock worth $12,257,000 after acquiring an additional 21,510 shares during the last quarter. Diamant Asset Management Inc. lifted its stake in shares of Iron Mountain by 3.5% during the 2nd quarter. Diamant Asset Management Inc. now owns 17,650 shares of the financial services provider’s stock valued at $552,000 after buying an additional 600 shares in the last quarter. Finally, Redwood Investment Management LLC purchased a new position in shares of Iron Mountain during the 1st quarter valued at $272,000. Institutional investors and hedge funds own 87.29% of the company’s stock.
A number of research firms recently weighed in on IRM. TheStreet cut shares of Iron Mountain from a “b-” rating to a “c+” rating in a research note on Tuesday, May 14th. Bank of America cut shares of Iron Mountain from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $33.00 to $25.00 in a research note on Thursday, July 11th. ValuEngine cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Wells Fargo & Co began coverage on shares of Iron Mountain in a research note on Wednesday, July 10th. They set an “outperform” rating and a $31.60 target price on the stock. Finally, Robert W. Baird upgraded shares of Iron Mountain from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $27.00 to $29.00 in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Iron Mountain has a consensus rating of “Hold” and a consensus target price of $35.08.
In other Iron Mountain news, Director Walter C. Rakowich sold 2,024 shares of the business’s stock in a transaction 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 sale, the director now owns 23,360 shares in the company, valued at approximately $735,139.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.
IRM stock traded up $0.50 during mid-day trading on Friday, hitting $31.49. The company had a trading volume of 1,959,300 shares, compared to its average volume of 2,759,030. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 3.63 and a beta of 0.59. Iron Mountain Inc has a 12-month low of $29.28 and a 12-month high of $37.32. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 6.06. The company has a 50-day moving average price of $30.76 and a 200 day moving average price of $33.12.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $1.07 billion for 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. As a group, analysts expect that Iron Mountain Inc will post 2.26 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Monday, September 16th will be paid a $0.611 dividend. This represents a $2.44 annualized dividend and a yield of 7.76%. The ex-dividend date is Friday, September 13th. Iron Mountain’s payout ratio is currently 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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