Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,404 shares of the financial services provider’s stock after selling 112 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Iron Mountain were worth $215,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its position in shares of Iron Mountain by 5.7% in the 2nd quarter. American Century Companies Inc. now owns 828,630 shares of the financial services provider’s stock valued at $74,262,000 after purchasing an additional 44,574 shares during the period. LPL Financial LLC boosted its position in shares of Iron Mountain by 9.5% in the 2nd quarter. LPL Financial LLC now owns 501,499 shares of the financial services provider’s stock valued at $44,944,000 after purchasing an additional 43,498 shares during the period. HHM Wealth Advisors LLC boosted its position in shares of Iron Mountain by 586.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,263 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 1,079 shares during the period. AGF Management Ltd. boosted its position in shares of Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares during the period. Finally, MGO One Seven LLC acquired a new stake in shares of Iron Mountain in the 2nd quarter valued at about $875,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on IRM shares. 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. 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. 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. Finally, 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. 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Iron Mountain Stock Performance

Shares of IRM stock opened at $117.06 on Monday. The company has a market cap of $34.31 billion, a price-to-earnings ratio of 177.36, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00. The stock has a 50 day simple moving average of $106.10 and a 200-day simple moving average of $90.03. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $117.83. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63.

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

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a $0.715 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.44%. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Insider Activity at Iron Mountain

In related news, EVP Edward Baker-Greene sold 6,200 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $88.35, for a total value of $547,770.00. Following the completion of the transaction, the executive vice president now directly owns 11,311 shares of the company’s stock, valued at approximately $999,326.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Edward Baker-Greene sold 6,200 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $88.35, for a total value of $547,770.00. Following the completion of the transaction, the executive vice president now directly owns 11,311 shares of the company’s stock, valued at approximately $999,326.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The disclosure for this sale can be found here. Insiders sold 65,787 shares of company stock valued at $6,025,002 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

About Iron Mountain

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.