Iron Mountain Incorporated (NYSE:IRM) Stock Holdings Lessened by Trust Investment Advisors

Trust Investment Advisors reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,909 shares of the financial services provider’s stock after selling 464 shares during the quarter. Iron Mountain makes up approximately 1.1% of Trust Investment Advisors’ portfolio, making the stock its 25th largest position. Trust Investment Advisors’ holdings in Iron Mountain were worth $1,695,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its stake in shares of Iron Mountain by 171.1% during the 2nd quarter. Intech Investment Management LLC now owns 147,714 shares of the financial services provider’s stock valued at $13,238,000 after buying an additional 93,223 shares during the period. Sienna Gestion boosted its position in Iron Mountain by 12.5% during the second quarter. Sienna Gestion now owns 3,844 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 428 shares during the last quarter. Hsbc Holdings PLC grew its stake in Iron Mountain by 20.2% in the second quarter. Hsbc Holdings PLC now owns 705,792 shares of the financial services provider’s stock valued at $63,285,000 after purchasing an additional 118,410 shares in the last quarter. Elo Mutual Pension Insurance Co increased its position in Iron Mountain by 7.9% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 28,704 shares of the financial services provider’s stock worth $2,572,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Iron Mountain by 14.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,998 shares of the financial services provider’s stock worth $1,703,000 after purchasing an additional 2,393 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the subject of several recent research reports. Stifel Nicolaus boosted their price target 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 increased their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Iron Mountain Price Performance

NYSE IRM opened at $114.13 on Friday. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $118.46. The company has a fifty day simple moving average of $107.49 and a 200 day simple moving average of $90.73. 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 company has a market cap 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.

Iron Mountain (NYSE:IRM) last released its quarterly 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). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm’s 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. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be given 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 2.51%. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s payout ratio is currently 433.33%.

Insider Transactions at Iron Mountain

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

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.