Arizona State Retirement System increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,867 shares of the financial services provider’s stock after buying an additional 100 shares during the period. Arizona State Retirement System’s holdings in Iron Mountain were worth $2,091,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of IRM. Vanguard Group Inc. increased its stake in shares of Iron Mountain by 2.1% in the first quarter. Vanguard Group Inc. now owns 43,247,671 shares of the financial services provider’s stock valued at $1,542,644,000 after buying an additional 893,442 shares during the period. BlackRock Inc. increased its stake in shares of Iron Mountain by 3,761.9% in the first quarter. BlackRock Inc. now owns 18,027,691 shares of the financial services provider’s stock valued at $643,048,000 after buying an additional 17,560,886 shares during the period. Parnassus Investments CA increased 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 increased 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. increased 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. Hedge funds and other institutional investors own 85.97% of the company’s stock.
Shares of Iron Mountain Incorporated (NYSE:IRM) opened at 36.89 on Monday. Iron Mountain Incorporated has a 52-week low of $30.75 and a 52-week high of $39.75. The firm has a market capitalization of $9.75 billion, a P/E ratio of 50.60 and a beta of 0.94. The stock has a 50 day moving average of $35.69 and a 200-day moving average of $35.44.
Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The company had revenue of $950 million during the quarter, compared to the consensus estimate of $955.05 million. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. Iron Mountain’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS. Equities analysts expect that Iron Mountain Incorporated will post $1.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Thursday, September 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 297.30%.
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IRM has been the subject of several research reports. BidaskClub upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Deutsche Bank AG downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating and dropped their price target for the company from $41.00 to $30.00 in a research report on Wednesday, June 7th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of Iron Mountain in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $35.67.
In related news, Director Walter C. Rakowich sold 1,552 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $35.15, for a total value of $54,552.80. Following the completion of the transaction, the director now directly owns 15,074 shares of the company’s stock, valued at approximately $529,851.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eileen Sweeney sold 2,100 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $35.14, for a total transaction of $73,794.00. Following the completion of the transaction, the senior vice president now directly owns 2,104 shares of the company’s stock, valued at $73,934.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,102 shares of company stock valued at $1,247,447. 1.50% of the stock is owned by 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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