Traders Purchase High Volume of Call Options on Iron Mountain (IRM)
Iron Mountain Incorporated (NYSE:IRM) saw some unusual options trading activity on Thursday. Traders bought 890 call options on the company. This represents an increase of Infinity compared to the average volume of 0 call options.
In other Iron Mountain news, VP Theodore Maclean sold 1,500 shares of Iron Mountain stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $40.60, for a total value of $60,900.00. Following the transaction, the vice president now directly owns 8,679 shares in the company, valued at $352,367.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Patrick J. Keddy sold 23,428 shares of Iron Mountain stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $39.04, for a total transaction of $914,629.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,379 shares of company stock worth $1,911,241. 1.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in IRM. BlackRock Inc. boosted its holdings in Iron Mountain by 5.0% during the second quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock worth $650,244,000 after buying an additional 896,751 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Iron Mountain by 25.2% during the third quarter. Bank of New York Mellon Corp now owns 3,579,236 shares of the financial services provider’s stock worth $139,231,000 after buying an additional 720,270 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in Iron Mountain by 89.2% during the third quarter. Pictet Asset Management Ltd. now owns 1,462,729 shares of the financial services provider’s stock worth $56,900,000 after buying an additional 689,800 shares in the last quarter. Athos Capital Ltd boosted its holdings in Iron Mountain by 7,231.4% during the third quarter. Athos Capital Ltd now owns 675,958 shares of the financial services provider’s stock worth $9,112,000 after buying an additional 666,738 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Iron Mountain by 40.0% during the third quarter. JPMorgan Chase & Co. now owns 2,282,533 shares of the financial services provider’s stock worth $88,518,000 after buying an additional 652,239 shares in the last quarter. 88.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $43.00 price target (up from $40.00) on shares of Iron Mountain in a research note on Friday, October 20th. ValuEngine upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Evercore ISI assumed coverage on shares of Iron Mountain in a research note on Wednesday, October 18th. They set an “outperform” rating and a $46.00 price target on the stock. Zacks Investment Research upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Robert W. Baird boosted their price target on shares of Iron Mountain from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Iron Mountain currently has a consensus rating of “Buy” and a consensus price target of $41.20.
Iron Mountain (IRM) opened at $40.92 on Tuesday. Iron Mountain has a one year low of $31.39 and a one year high of $41.18. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 3.59. The stock has a market cap of $10,880.00, a PE ratio of 19.60, a PEG ratio of 6.36 and a beta of 1.02.
Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $966.00 million for the quarter, compared to the consensus estimate of $960.99 million. Iron Mountain had a net margin of 5.54% and a return on equity of 15.49%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 earnings per share. research analysts predict that Iron Mountain will post 2.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a dividend of $0.5875 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.35 dividend on an annualized basis and a yield of 5.74%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.55. Iron Mountain’s payout ratio is currently 271.60%.
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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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