Iron Mountain Incorporated (IRM) Shares Bought by Orleans Capital Management Corp LA
Orleans Capital Management Corp LA raised its position in Iron Mountain Incorporated (NYSE:IRM) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,708 shares of the financial services provider’s stock after purchasing an additional 993 shares during the quarter. Orleans Capital Management Corp LA’s holdings in Iron Mountain were worth $1,777,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Planning raised its position in Iron Mountain by 4.6% in the second quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 134 shares during the period. Pacer Advisors Inc. raised its position in Iron Mountain by 3.4% in the first quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 121 shares during the period. Soros Fund Management LLC purchased a new stake in Iron Mountain in the first quarter valued at approximately $203,000. CIBC World Markets Inc. purchased a new stake in Iron Mountain in the second quarter valued at approximately $203,000. Finally, Penserra Capital Management LLC raised its position in Iron Mountain by 7.5% in the second quarter. Penserra Capital Management LLC now owns 6,019 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 422 shares during the period. 87.46% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the company. Zacks Investment Research lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. BidaskClub raised Iron Mountain from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a research report on Sunday, September 3rd. Finally, Robert W. Baird set a $39.00 target price on Iron Mountain and gave the company a “hold” rating in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Iron Mountain has an average rating of “Hold” and a consensus target price of $38.25.
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In other news, EVP Theodore Maclean sold 1,500 shares of the firm’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $38.13, for a total value of $57,195.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Tomovcsik sold 29,450 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $38.00, for a total transaction of $1,119,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 52,901 shares of company stock worth $2,054,812. Insiders own 1.50% of the company’s stock.
Shares of Iron Mountain Incorporated (IRM) traded down 0.50% during mid-day trading on Friday, reaching $39.61. The company’s stock had a trading volume of 319,362 shares. The firm’s 50 day moving average price is $39.30 and its 200-day moving average price is $36.31. The company has a market capitalization of $10.47 billion, a price-to-earnings ratio of 54.33 and a beta of 0.91. Iron Mountain Incorporated has a 1-year low of $30.75 and a 1-year high of $40.64.
Iron Mountain (NYSE:IRM) last issued its earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, beating the Zacks’ 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 business had revenue of $950.00 million for the quarter, compared to the consensus estimate of $955.05 million. During the same quarter last year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts predict that Iron Mountain Incorporated will post $1.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date of this dividend was Thursday, September 14th. Iron Mountain’s dividend payout ratio is presently 297.30%.
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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