Ledyard National Bank maintained its stake in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,040 shares of the financial services provider’s stock at the end of the second quarter. Ledyard National Bank’s holdings in Iron Mountain were worth $104,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the company. Creative Planning raised its stake 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 buying an additional 134 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of 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 buying an additional 121 shares during the last quarter. Trust Department MB Financial Bank N A acquired a new position in shares of Iron Mountain during the first quarter valued at $178,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Iron Mountain by 11.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,309 shares of the financial services provider’s stock valued at $189,000 after buying an additional 550 shares during the last quarter. Finally, Conning Inc. acquired a new position in shares of Iron Mountain during the first quarter valued at $202,000. Institutional investors and hedge funds own 86.04% of the company’s stock.
Shares of Iron Mountain Incorporated (IRM) traded down 1.85% during trading on Friday, reaching $37.13. The company had a trading volume of 1,066,535 shares. The firm has a 50-day moving average of $35.20 and a 200 day moving average of $35.37. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 50.93 and a beta of 0.94. Iron Mountain Incorporated has a 52 week low of $30.75 and a 52 week high of $39.75.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $950 million during the quarter, compared to the consensus estimate of $955.05 million. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. Iron Mountain’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post $1.18 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend is Thursday, September 14th. Iron Mountain’s payout ratio is currently 297.30%.
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Several research analysts have recently weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 target price on shares of Iron Mountain in a research note on Friday, June 9th. Zacks Investment Research downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. BidaskClub cut Iron Mountain from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Deutsche Bank AG cut Iron Mountain from a “hold” rating to a “sell” rating and dropped their target price for the company from $41.00 to $30.00 in a report on Wednesday, June 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Iron Mountain has an average rating of “Hold” and a consensus price target of $35.67.
In related news, SVP Eileen Sweeney sold 2,100 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $35.14, for a total value of $73,794.00. Following the completion of the transaction, the senior vice president now directly owns 2,104 shares of the company’s stock, valued at approximately $73,934.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter C. Rakowich sold 1,552 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $35.15, for a total value of $54,552.80. Following the completion of the transaction, the director now directly owns 15,074 shares of the company’s stock, valued at $529,851.10. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
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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