Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 20.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 705,792 shares of the financial services provider’s stock after buying an additional 118,410 shares during the quarter. Hsbc Holdings PLC owned approximately 0.24% of Iron Mountain worth $63,285,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Cohen & Steers Inc. grew its holdings in Iron Mountain by 202.1% in the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after buying an additional 15,035,937 shares during the period. Centersquare Investment Management LLC raised its stake in Iron Mountain by 7,892.6% during the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after purchasing an additional 1,519,237 shares during the period. AGF Management Ltd. boosted its holdings 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 last quarter. Sei Investments Co. increased its holdings in shares of Iron Mountain by 278.3% during the 4th quarter. Sei Investments Co. now owns 875,092 shares of the financial services provider’s stock worth $61,239,000 after buying an additional 643,760 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Iron Mountain by 11.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after buying an additional 475,849 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction 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 owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated 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 approximately $27,078,583.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,003 shares of company stock valued at $3,352,406. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target 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 upped their target price on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. 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 report on Friday, August 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Iron Mountain Trading Down 2.0 %

Shares of IRM opened at $114.13 on Friday. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $118.46. 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 capitalization of $33.46 billion, a P/E ratio of 172.92, a P/E/G ratio of 6.85 and a beta of 1.00. The stock has a 50-day moving average price of $107.49 and a 200 day moving average price of $90.73.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s payout ratio is 433.33%.

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.