Atlantic Union Bankshares Corp increased its stake in shares of Iron Mountain Inc (NYSE:IRM) by 6.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,503 shares of the financial services provider’s stock after buying an additional 1,461 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Iron Mountain were worth $794,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Meridian Wealth Management LLC grew its holdings in shares of Iron Mountain by 2.6% during the second quarter. Meridian Wealth Management LLC now owns 13,935 shares of the financial services provider’s stock valued at $436,000 after buying an additional 355 shares during the last quarter. Bank of The West grew its holdings in shares of Iron Mountain by 7.2% during the second quarter. Bank of The West now owns 6,554 shares of the financial services provider’s stock valued at $205,000 after buying an additional 438 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of Iron Mountain by 0.3% during the second quarter. Retirement Systems of Alabama now owns 146,867 shares of the financial services provider’s stock valued at $4,597,000 after buying an additional 443 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in Iron Mountain by 5.5% in the second quarter. Essex Financial Services Inc. now owns 8,540 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 445 shares during the last quarter. Finally, Roman Butler Fullerton & Co. boosted its holdings in Iron Mountain by 2.1% in the third quarter. Roman Butler Fullerton & Co. now owns 22,933 shares of the financial services provider’s stock valued at $743,000 after purchasing an additional 471 shares during the last quarter. 85.95% of the stock is currently owned by hedge funds and other institutional investors.
IRM stock opened at $33.50 on Friday. The company’s 50-day simple moving average is $32.34 and its 200-day simple moving average is $32.12. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 6.06. Iron Mountain Inc has a 52-week low of $29.28 and a 52-week high of $37.32. The firm has a market cap of $9.41 billion, a P/E ratio of 14.57, a PEG ratio of 3.80 and a beta of 0.55.
Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Iron Mountain had a net margin of 8.18% and a return on equity of 19.65%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $0.30 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts anticipate that Iron Mountain Inc will post 2.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Monday, September 16th were paid a dividend of $0.611 per share. This represents a $2.44 annualized dividend and a dividend yield of 7.30%. The ex-dividend date of this dividend was Friday, September 13th. Iron Mountain’s payout ratio is currently 106.09%.
In other news, EVP Patrick J. Keddy sold 6,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $33.00, for a total transaction of $198,000.00. Following the sale, the executive vice president now directly owns 24,114 shares of the company’s stock, valued at approximately $795,762. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.
Several equities research analysts have commented on the stock. Robert W. Baird raised shares of Iron Mountain from an “underperform” rating to a “neutral” rating and upped their price target for the company from $27.00 to $29.00 in a report on Friday, August 2nd. Bank of America lowered shares of Iron Mountain from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $33.00 to $25.00 in a report on Thursday, July 11th. Barclays set a $39.00 price target on shares of Iron Mountain and gave the company a “hold” rating in a report on Friday, October 11th. ValuEngine lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Credit Suisse Group reaffirmed a “sell” rating and issued a $21.00 price target on shares of Iron Mountain in a report on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Iron Mountain currently has a consensus rating of “Hold” and a consensus price target of $31.58.
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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