Iron Mountain Incorporated (IRM) SVP Sells $15,839.50 in Stock
Iron Mountain Incorporated (NYSE:IRM) SVP Edward Bicks sold 401 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $39.50, for a total transaction of $15,839.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Iron Mountain Incorporated (NYSE:IRM) opened at 39.44 on Monday. Iron Mountain Incorporated has a one year low of $30.75 and a one year high of $39.75. The stock has a 50 day moving average of $36.93 and a 200 day moving average of $35.59. The stock has a market cap of $10.43 billion, a P/E ratio of 54.10 and a beta of 0.92.
Iron Mountain (NYSE:IRM) last posted its earnings results on Friday, July 28th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. The business had revenue of $950 million for the quarter, compared to analysts’ expectations of $955.05 million. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts forecast that Iron Mountain Incorporated will post $1.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend is Thursday, September 14th. Iron Mountain’s payout ratio is currently 297.30%.
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Several analysts have recently commented on IRM shares. BidaskClub upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Deutsche Bank AG downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating and lowered their target price for the company from $41.00 to $30.00 in a report on Wednesday, June 7th. Robert W. Baird set a $39.00 target price on shares of Iron Mountain and gave the company a “hold” rating in a report on Friday, August 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a report on Sunday. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Iron Mountain presently has an average rating of “Hold” and a consensus price target of $36.50.
Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Iron Mountain by 180.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,490,008 shares of the financial services provider’s stock worth $53,149,000 after acquiring an additional 957,896 shares in the last quarter. Clinton Group Inc. purchased a new stake in Iron Mountain in the 1st quarter worth approximately $1,477,000. LS Investment Advisors LLC increased its holdings in Iron Mountain by 12.9% in the 1st quarter. LS Investment Advisors LLC now owns 10,085 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 1,156 shares in the last quarter. Webster Bank N. A. increased its holdings in Iron Mountain by 57.4% in the 2nd quarter. Webster Bank N. A. now owns 31,661 shares of the financial services provider’s stock worth $1,088,000 after acquiring an additional 11,548 shares in the last quarter. Finally, Glen Harbor Capital Management LLC increased its holdings in Iron Mountain by 5.0% in the 1st quarter. Glen Harbor Capital Management LLC now owns 16,368 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 784 shares in the last quarter. 87.48% of the stock is owned by institutional investors.
About Iron Mountain
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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