Oppenheimer Asset Management Inc. Acquires 5,476 Shares of Iron Mountain Incorporated (IRM)
Oppenheimer Asset Management Inc. increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 63.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,128 shares of the financial services provider’s stock after purchasing an additional 5,476 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Iron Mountain were worth $485,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Iron Mountain by 180.0% during the first quarter. JPMorgan Chase & Co. now owns 1,490,008 shares of the financial services provider’s stock valued at $53,149,000 after purchasing an additional 957,896 shares in the last quarter. Clinton Group Inc. bought a new position in shares of Iron Mountain during the first quarter valued at approximately $1,477,000. LS Investment Advisors LLC boosted its stake in shares of Iron Mountain by 12.9% during the first quarter. LS Investment Advisors LLC now owns 10,085 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 1,156 shares in the last quarter. Webster Bank N. A. boosted its stake in shares of Iron Mountain by 57.4% during the second quarter. Webster Bank N. A. now owns 31,661 shares of the financial services provider’s stock valued at $1,088,000 after purchasing an additional 11,548 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Iron Mountain by 2.7% during the second quarter. CIBC Asset Management Inc now owns 24,826 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 651 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.
Shares of Iron Mountain Incorporated (IRM) opened at 39.47 on Friday. The firm has a 50-day moving average of $38.25 and a 200 day moving average of $35.76. Iron Mountain Incorporated has a 52 week low of $30.75 and a 52 week high of $40.44. The firm has a market capitalization of $10.44 billion, a P/E ratio of 54.14 and a beta of 0.92.
Iron Mountain (NYSE:IRM) last posted its quarterly 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. Iron Mountain had a net margin of 5.14% and a return on equity of 14.46%. The company had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $955.05 million. During the same quarter in the previous year, the business posted $0.24 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts expect that Iron Mountain Incorporated will post $1.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 5.57%. The ex-dividend date is Thursday, September 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 297.30%.
A number of research firms have recently issued reports on IRM. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Stifel Nicolaus restated a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a research note on Friday, June 9th. Robert W. Baird set a $39.00 target price on shares of Iron Mountain and gave the company a “hold” rating in a research note on Friday, August 25th. Finally, 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 research note on Wednesday, June 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Iron Mountain presently has an average rating of “Hold” and an average price target of $36.50.
In other Iron Mountain news, EVP John Tomovcsik sold 21,037 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $40.02, for a total transaction of $841,900.74. Following the completion of the transaction, the executive vice president now owns 62,379 shares in the company, valued at approximately $2,496,407.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 50,888 shares of company stock valued at $1,976,840 in the last quarter. 1.50% of the stock is currently owned by company insiders.
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Iron Mountain 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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