Daiwa Securities Group Inc. increased its position in Iron Mountain Incorporated (NYSE:IRM) by 14.3% during the second quarter, Holdings Channel reports. The firm owned 29,628 shares of the financial services provider’s stock after buying an additional 3,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Iron Mountain were worth $1,018,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Ledyard National Bank bought a new stake in shares of Iron Mountain during the first quarter worth about $108,000. Creative Planning raised its stake in Iron Mountain by 4.6% in the second quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock valued at $105,000 after buying an additional 134 shares during the last quarter. Pacer Advisors Inc. raised its stake in Iron Mountain by 3.4% in the first quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock valued at $131,000 after buying an additional 121 shares during the last quarter. Trust Department MB Financial Bank N A acquired a new stake in Iron Mountain during the first quarter valued at $178,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Iron Mountain by 11.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,309 shares of the financial services provider’s stock valued at $189,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 86.04% of the company’s stock.
Shares of Iron Mountain Incorporated (NYSE IRM) opened at 37.83 on Friday. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 51.89 and a beta of 0.94. The firm’s 50-day moving average is $35.20 and its 200 day moving average is $35.37. Iron Mountain Incorporated has a 1-year low of $30.75 and a 1-year high of $39.75.
Iron Mountain (NYSE:IRM) last issued its earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $950 million during the quarter, compared to analysts’ expectations of $955.05 million. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. Iron Mountain’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. Equities analysts expect that Iron Mountain Incorporated will post $1.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.20 annualized dividend and a yield of 5.82%. Iron Mountain’s dividend payout ratio (DPR) is currently 297.30%.
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Several research firms have weighed in on IRM. BidaskClub lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Deutsche Bank AG lowered 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 research note on Wednesday, June 7th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $40.00 target price on shares of Iron Mountain in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $35.67.
In other Iron Mountain news, Director Walter C. Rakowich sold 1,552 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $35.15, for a total transaction of $54,552.80. Following the completion of the transaction, the director now directly owns 15,074 shares in the company, valued at $529,851.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eileen Sweeney sold 2,100 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $35.14, for a total value of $73,794.00. Following the transaction, the senior vice president now owns 2,104 shares of the company’s stock, valued at $73,934.56. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
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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