Ranch Capital Advisors Inc. Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

Ranch Capital Advisors Inc. trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,940 shares of the financial services provider’s stock after selling 323 shares during the period. Iron Mountain makes up approximately 1.6% of Ranch Capital Advisors Inc.’s holdings, making the stock its 13th biggest holding. Ranch Capital Advisors Inc.’s holdings in Iron Mountain were worth $3,059,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. lifted its stake in shares of Iron Mountain by 202.1% during the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after buying an additional 15,035,937 shares during the period. Daiwa Securities Group Inc. lifted its holdings 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 valued at $365,931,000 after buying an additional 475,849 shares during the period. AGF Management Ltd. boosted its position in 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 worth $201,232,000 after purchasing an additional 972,101 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Iron Mountain by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after buying an additional 6,562 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its position 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 valued at $119,263,000 after buying an additional 1,519,237 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 approximately $1,725,799.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Wendy J. Murdock sold 8,500 shares of the business’s 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 completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the business’s 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 of the company’s stock, valued at approximately $27,078,583.50. The disclosure for this sale can be found here. Insiders sold a total of 33,003 shares of company stock valued at $3,352,406 in the last three months. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Down 2.0 %

NYSE IRM opened at $114.13 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $118.46. The business’s fifty day simple moving average is $107.49 and its 200-day simple moving average is $90.73. The firm has a market cap of $33.46 billion, a PE ratio of 172.92, a P/E/G ratio of 6.85 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). The business had revenue of $1.53 billion for 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%. Iron Mountain’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors 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 2.51%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Analyst Ratings Changes

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

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.