Tokio Marine Asset Management Co. Ltd. increased its position in shares of Iron Mountain Inc. (NYSE:IRM) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,738 shares of the company’s stock after buying an additional 658 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Iron Mountain were worth $388,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. JNBA Financial Advisors raised its stake in shares of Iron Mountain by 421.2% in the second quarter. JNBA Financial Advisors now owns 2,653 shares of the company’s stock worth $106,000 after buying an additional 2,144 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Iron Mountain by 11.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,555 shares of the company’s stock worth $142,000 after buying an additional 351 shares during the period. Breton Hill Capital Ltd. bought a new stake in shares of Iron Mountain during the second quarter worth about $207,000. Franklin Resources Inc. bought a new stake in shares of Iron Mountain during the first quarter worth about $234,000. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Iron Mountain during the first quarter worth about $257,000. 80.81% of the stock is owned by institutional investors.
Iron Mountain Inc. (NYSE:IRM) traded down 0.65% during midday trading on Tuesday, hitting $33.69. 1,817,507 shares of the company traded hands. Iron Mountain Inc. has a 12-month low of $23.64 and a 12-month high of $41.50. The firm has a market capitalization of $8.87 billion, a PE ratio of 95.44 and a beta of 0.70. The stock’s 50-day moving average is $37.13 and its 200-day moving average is $37.24.
Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, August 4th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Iron Mountain had a net margin of 2.51% and a return on equity of 26.91%. The firm earned $883.70 million during the quarter, compared to the consensus estimate of $884.46 million. During the same period in the previous year, the company posted $0.28 EPS. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. Analysts anticipate that Iron Mountain Inc. will post $2.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 12th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.76%. The ex-dividend date was Thursday, September 8th. Iron Mountain’s payout ratio is presently 510.54%.
A number of equities research analysts have issued reports on IRM shares. Zacks Investment Research raised shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Tuesday, June 21st. Piper Jaffray Cos. reissued a “buy” rating and set a $44.00 target price on shares of Iron Mountain in a research note on Friday, June 17th. Stifel Nicolaus reissued a “buy” rating and set a $44.00 target price on shares of Iron Mountain in a research note on Tuesday, September 13th. TheStreet lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $44.50.
In other news, VP Edward Bicks sold 2,773 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $36.32, for a total transaction of $100,715.36. Following the completion of the sale, the vice president now owns 914 shares of the company’s stock, valued at $33,196.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Walter C. Rakowich sold 1,466 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $36.32, for a total transaction of $53,245.12. Following the sale, the director now directly owns 7,130 shares of the company’s stock, valued at approximately $258,961.60. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.
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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