Teachers Retirement System of The State of Kentucky Holds Stake in Iron Mountain Incorporated (IRM)
Teachers Retirement System of The State of Kentucky continued to hold its position in shares of Iron Mountain Incorporated (NYSE:IRM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,423 shares of the financial services provider’s stock at the end of the second quarter. Teachers Retirement System of The State of Kentucky’s holdings in Iron Mountain were worth $874,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning grew its holdings in Iron Mountain by 4.6% during the 2nd quarter. Creative Planning now owns 3,049 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 134 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Iron Mountain by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 3,663 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 121 shares in the last quarter. Soros Fund Management LLC acquired a new position in Iron Mountain during the 1st quarter worth approximately $203,000. Ameritas Investment Partners Inc. acquired a new position in Iron Mountain during the 1st quarter worth approximately $209,000. Finally, CIBC World Markets Inc. acquired a new position in Iron Mountain during the 2nd quarter worth approximately $203,000. Institutional investors own 87.46% of the company’s stock.
Several research firms have commented on IRM. Zacks Investment Research cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $40.00 price objective on shares of Iron Mountain in a research report on Sunday, September 3rd. Robert W. Baird set a $39.00 price objective on shares of Iron Mountain and gave the stock a “hold” rating in a research report on Friday, August 25th. Finally, BidaskClub upgraded shares of Iron Mountain from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.25.
In other news, EVP John Tomovcsik sold 29,450 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Theodore Maclean sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $38.13, for a total transaction of $57,195.00. The disclosure for this sale can be found here. Insiders have sold 52,901 shares of company stock valued at $2,054,812 in the last three months. Corporate insiders own 1.50% of the company’s stock.
Shares of Iron Mountain Incorporated (IRM) opened at 39.81 on Friday. The stock’s 50 day moving average is $39.30 and its 200 day moving average is $36.31. The stock has a market cap of $10.53 billion, a P/E ratio of 54.61 and a beta of 0.91. Iron Mountain Incorporated has a 12 month low of $30.75 and a 12 month high of $40.64.
Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $955.05 million. During the same quarter last year, the company earned $0.24 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts predict that Iron Mountain Incorporated will post $1.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were given a dividend of $0.55 per share. 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 payout ratio is currently 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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