Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Mathes Company Inc.

Mathes Company Inc. cut its position in Iron Mountain Incorporated (NYSE:IRM) by 18.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,150 shares of the financial services provider’s stock after selling 1,800 shares during the period. Mathes Company Inc.’s holdings in Iron Mountain were worth $730,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain in the 2nd quarter worth approximately $32,000. Transcendent Capital Group LLC purchased a new stake in Iron Mountain during the fourth quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iron Mountain during the second quarter worth $36,000. Heritage Wealth Advisors acquired a new stake in Iron Mountain during the fourth quarter valued at $38,000. Finally, Headlands Technologies LLC purchased a new position in Iron Mountain in the first quarter valued at $38,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group raised their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their target price on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.83.

Iron Mountain Stock Up 0.5 %

NYSE IRM opened at $116.45 on Thursday. The business has a fifty day moving average price of $107.06 and a 200 day moving average price of $90.55. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $34.14 billion, a P/E ratio of 176.44, a P/E/G ratio of 6.85 and a beta of 1.00. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $118.46.

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

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Monday, September 16th. Iron Mountain’s payout ratio is currently 433.33%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $27,078,583.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. The disclosure for this sale can be found here. Insiders sold 33,003 shares of company stock worth $3,352,406 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain 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.