Iron Mountain Incorporated (NYSE:IRM) EVP John Tomovcsik sold 29,450 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $38.00, for a total value of $1,119,100.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Iron Mountain Incorporated (IRM) opened at 37.13 on Friday. The firm has a market capitalization of $9.82 billion, a P/E ratio of 50.93 and a beta of 0.94. Iron Mountain Incorporated has a 52-week low of $30.75 and a 52-week high of $39.75. The firm’s 50-day moving average is $35.29 and its 200 day moving average is $35.39.
Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $950 million for the quarter, compared to analysts’ expectations of $955.05 million. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. Equities analysts anticipate that Iron Mountain Incorporated will post $1.18 EPS for the current year.
The business also recently disclosed 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 is Thursday, September 14th. This represents a $2.20 annualized dividend and a yield of 5.93%. Iron Mountain’s dividend payout ratio is currently 297.30%.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Iron Mountain by 0.3% in the second quarter. Vanguard Group Inc. now owns 43,398,710 shares of the financial services provider’s stock valued at $1,491,180,000 after buying an additional 151,039 shares during the period. BlackRock Inc. boosted its stake in shares of Iron Mountain by 5.0% in the second quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock valued at $650,244,000 after buying an additional 896,751 shares during the period. Parnassus Investments CA boosted its stake in shares of Iron Mountain by 3.8% in the first quarter. Parnassus Investments CA now owns 11,942,837 shares of the financial services provider’s stock valued at $414,108,000 after buying an additional 441,458 shares during the period. State Street Corp boosted its stake in shares of Iron Mountain by 3.1% in the first quarter. State Street Corp now owns 10,575,065 shares of the financial services provider’s stock valued at $377,212,000 after buying an additional 320,851 shares during the period. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Iron Mountain by 9.2% in the first quarter. Epoch Investment Partners Inc. now owns 6,223,354 shares of the financial services provider’s stock valued at $221,986,000 after buying an additional 523,420 shares during the period. 86.04% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. BidaskClub lowered Iron Mountain from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Deutsche Bank AG lowered Iron Mountain from a “hold” rating to a “sell” rating and cut their price objective for the stock from $41.00 to $30.00 in a report on Wednesday, June 7th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price objective on shares of Iron Mountain in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $35.67.
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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