An issue of Iron Mountain Incorporated (NYSE:IRM) bonds fell 0.5% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 6% coupon and will mature on August 15, 2023. The debt is now trading at $105.75 and was trading at $105.63 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
IRM has been the topic of several research analyst reports. BidaskClub upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Deutsche Bank AG cut shares of Iron Mountain from a “hold” rating to a “sell” rating and lowered their target price for the company from $41.00 to $30.00 in a research note on Wednesday, June 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $40.00 target price on shares of Iron Mountain in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $35.67.
Iron Mountain Incorporated (IRM) opened at 37.18 on Wednesday. The firm’s 50-day moving average is $34.84 and its 200 day moving average is $35.28. Iron Mountain Incorporated has a 1-year low of $30.75 and a 1-year high of $39.75. The company has a market cap of $9.83 billion, a PE ratio of 51.00 and a beta of 0.94.
Iron Mountain (NYSE:IRM) last released its earnings results on Friday, July 28th. The financial services provider reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. Iron Mountain had a return on equity of 14.46% and a net margin of 5.14%. The firm had revenue of $950 million during the quarter, compared to the consensus estimate of $955.05 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s 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 company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date of this dividend is Thursday, September 14th. Iron Mountain’s dividend payout ratio (DPR) is 297.30%.
In related news, Director Walter C. Rakowich sold 1,552 shares of Iron Mountain stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $35.15, for a total transaction of $54,552.80. Following the completion of the sale, the director now owns 15,074 shares of the company’s stock, valued at $529,851.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eileen Sweeney sold 2,100 shares of Iron Mountain stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $35.14, for a total value of $73,794.00. Following the sale, the senior vice president now directly owns 2,104 shares of the company’s stock, valued at approximately $73,934.56. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in IRM. Anchor Capital Advisors LLC increased its position in shares of Iron Mountain by 0.9% in the first quarter. Anchor Capital Advisors LLC now owns 11,610 shares of the financial services provider’s stock worth $414,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Iron Mountain by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 15,200 shares of the financial services provider’s stock worth $522,000 after buying an additional 100 shares during the last quarter. Trust Investment Advisors increased its position in shares of Iron Mountain by 0.3% in the second quarter. Trust Investment Advisors now owns 37,090 shares of the financial services provider’s stock worth $1,274,000 after buying an additional 115 shares during 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 worth $131,000 after buying an additional 121 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Iron Mountain by 0.5% in the second quarter. Meeder Asset Management Inc. now owns 24,290 shares of the financial services provider’s stock worth $834,000 after buying an additional 132 shares during the last quarter. 86.04% of the stock is owned by hedge funds and other institutional investors.
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Iron Mountain Company 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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