Iron Mountain Incorporated (IRM) Shares Bought by Stifel Financial Corp
Stifel Financial Corp increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 118.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 306,749 shares of the financial services provider’s stock after buying an additional 166,346 shares during the quarter. Stifel Financial Corp owned about 0.12% of Iron Mountain worth $10,510,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Iron Mountain by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,530,435 shares of the financial services provider’s stock worth $121,305,000 after buying an additional 124,704 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Iron Mountain by 40.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 554,824 shares of the financial services provider’s stock valued at $19,064,000 after acquiring an additional 158,805 shares during the period. Sapience Investments LLC lifted its stake in Iron Mountain by 138.0% during the 2nd quarter. Sapience Investments LLC now owns 33,800 shares of the financial services provider’s stock valued at $1,161,000 after acquiring an additional 19,600 shares during the period. Advisor Group Inc. lifted its stake in Iron Mountain by 7.9% during the 2nd quarter. Advisor Group Inc. now owns 15,024 shares of the financial services provider’s stock valued at $512,000 after acquiring an additional 1,099 shares during the period. Finally, Cbre Clarion Securities LLC bought a new position in Iron Mountain during the 2nd quarter valued at about $5,532,000. Institutional investors own 87.46% of the company’s stock.
A number of brokerages have recently commented on IRM. Zacks Investment Research lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday. BidaskClub downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Deutsche Bank AG downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating and lowered their price objective for the company from $41.00 to $30.00 in a research report on Wednesday, June 7th. Stifel Nicolaus restated a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a report on Sunday, September 3rd. Finally, Robert W. Baird set a $39.00 target price on shares of Iron Mountain and gave the stock a “hold” rating in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $36.50.
In related news, EVP John Tomovcsik sold 21,037 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $40.02, for a total value of $841,900.74. Following the sale, the executive vice president now owns 62,379 shares in the company, valued at $2,496,407.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 51,401 shares of company stock valued at $1,997,617 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.
Iron Mountain Incorporated (NYSE IRM) opened at 39.25 on Tuesday. The firm has a 50-day moving average price of $39.00 and a 200-day moving average price of $36.10. Iron Mountain Incorporated has a 12-month low of $30.75 and a 12-month high of $40.64. The company has a market cap of $10.38 billion, a P/E ratio of 53.84 and a beta of 0.91.
Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $950.00 million for the quarter, compared to analyst estimates of $955.05 million. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. On average, analysts forecast that Iron Mountain Incorporated will post $1.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend was Thursday, September 14th. Iron Mountain’s dividend payout ratio (DPR) is 297.30%.
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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