Sienna Gestion Grows Holdings in Iron Mountain Incorporated (NYSE:IRM)

Sienna Gestion lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 12.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,844 shares of the financial services provider’s stock after buying an additional 428 shares during the quarter. Sienna Gestion’s holdings in Iron Mountain were worth $344,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IRM. Csenge Advisory Group grew its stake in Iron Mountain by 1.2% in the 2nd quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after acquiring an additional 114 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Iron Mountain by 2.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 117 shares during the period. Perfromance Wealth Partners LLC grew its position in shares of Iron Mountain by 2.4% in the second quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 118 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Iron Mountain by 9.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock worth $121,000 after buying an additional 120 shares during the period. Finally, Terra Nova Asset Management LLC lifted its position in Iron Mountain by 0.4% during the second quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock worth $2,905,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IRM shares. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. 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. The Goldman Sachs Group lifted their price target 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. Finally, Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Iron Mountain Price Performance

IRM opened at $114.13 on Friday. The company has a 50 day moving average of $107.49 and a two-hundred day moving average of $90.73. Iron Mountain Incorporated has a 52-week low of $56.51 and a 52-week high of $118.46. The company has a quick ratio of 0.79, a current 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 data 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). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders 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 yield of 2.51%. The ex-dividend date is Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 433.33%.

Insider Buying and Selling at Iron Mountain

In other news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’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 completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $27,078,583.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The disclosure for this sale can be found here. Insiders sold 33,003 shares of company stock valued at $3,352,406 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Company 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.