Foster & Motley Inc. Decreases Holdings in Iron Mountain Incorporated (NYSE:IRM)

Foster & Motley Inc. trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 10.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,617 shares of the financial services provider’s stock after selling 539 shares during the period. Foster & Motley Inc.’s holdings in Iron Mountain were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at about $36,000. Headlands Technologies LLC purchased a new stake in shares of Iron Mountain in the 1st quarter valued at about $38,000. Family Firm Inc. purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at about $45,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Iron Mountain in the 4th quarter valued at about $36,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Greg W. Mcintosh sold 13,923 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the sale, the executive vice president now owns 18,107 shares in the company, valued at approximately $1,582,732.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Iron Mountain news, EVP Greg W. Mcintosh sold 13,923 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the transaction, the executive vice president now owns 18,107 shares of the company’s stock, valued at approximately $1,582,732.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John Tomovcsik sold 1,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,805 shares of company stock worth $7,510,750. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IRM has been the subject of several analyst reports. Stifel Nicolaus upped their price objective on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company upped their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.83.

Iron Mountain Stock Performance

NYSE IRM opened at $109.48 on Friday. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 165.88, a PEG ratio of 6.78 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The business’s 50 day moving average is $103.77 and its two-hundred day moving average is $88.34. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $114.93.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. Research analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is 433.33%.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.