32,000 Shares in Iron Mountain Incorporated (IRM) Purchased by Bp Plc
Bp Plc bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,000 shares of the financial services provider’s stock, valued at approximately $1,244,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Iron Mountain by 0.3% in the second quarter. Vanguard Group Inc. now owns 43,398,710 shares of the financial services provider’s stock valued at $1,491,180,000 after acquiring an additional 151,039 shares during the last quarter. BlackRock Inc. grew its position in Iron Mountain by 5.0% in the second quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock valued at $650,244,000 after acquiring an additional 896,751 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Iron Mountain by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,530,435 shares of the financial services provider’s stock valued at $121,305,000 after acquiring an additional 124,704 shares during the last quarter. Northern Trust Corp grew its position in Iron Mountain by 1.3% in the second quarter. Northern Trust Corp now owns 2,733,029 shares of the financial services provider’s stock valued at $93,906,000 after acquiring an additional 34,350 shares during the last quarter. Finally, Confluence Investment Management LLC grew its position in Iron Mountain by 6.5% in the second quarter. Confluence Investment Management LLC now owns 2,313,278 shares of the financial services provider’s stock valued at $79,484,000 after acquiring an additional 140,322 shares during the last quarter. Hedge funds and other institutional investors own 87.66% of the company’s stock.
In other news, EVP Theodore Maclean sold 1,500 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $38.13, for a total transaction of $57,195.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Tomovcsik sold 21,037 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $40.02, for a total value of $841,900.74. Following the transaction, the executive vice president now owns 62,379 shares in the company, valued at $2,496,407.58. The disclosure for this sale can be found here. Insiders have sold a total of 76,329 shares of company stock worth $2,969,441 over the last quarter. Corporate insiders own 1.50% of the company’s stock.
Iron Mountain (NYSE:IRM) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $966.00 million for the quarter, compared to analyst estimates of $960.99 million. Iron Mountain had a return on equity of 15.49% and a net margin of 5.54%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.5875 per share. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.55. This represents a $2.35 annualized dividend and a dividend yield of 5.92%. Iron Mountain’s dividend payout ratio is 275.00%.
A number of research analysts have issued reports on IRM shares. BidaskClub cut Iron Mountain from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. 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. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 target price on shares of Iron Mountain in a research report on Sunday, September 3rd. Finally, Evercore ISI started coverage on Iron Mountain in a research report on Wednesday, October 18th. They issued an “outperform” rating and a $46.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Iron Mountain has an average rating of “Buy” and a consensus price target of $41.20.
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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