Mercer Global Advisors Inc. ADV Sells 7,144 Shares of Iron Mountain Incorporated (NYSE:IRM)

Mercer Global Advisors Inc. ADV trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,632 shares of the financial services provider’s stock after selling 7,144 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Iron Mountain were worth $7,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain in the 2nd quarter worth $32,000. Transcendent Capital Group LLC bought a new position in shares of Iron Mountain in the fourth quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter valued at about $36,000. Heritage Wealth Advisors bought a new position in shares of Iron Mountain during the 4th quarter valued at approximately $38,000. Finally, Headlands Technologies LLC purchased a new stake in Iron Mountain in the 1st quarter worth approximately $38,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 1.1 %

Shares of Iron Mountain stock opened at $115.36 on Friday. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month 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 business has a 50-day moving average price of $107.88 and a 200-day moving average price of $90.90. The firm has a market cap of $33.82 billion, a price-to-earnings ratio of 172.06, a PEG 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 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 during 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 was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be paid a $0.715 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Analysts Set New Price Targets

IRM has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One 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 currently has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Insider Transactions at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now 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 can be accessed through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the 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 sale, 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 SEC, which is available at this hyperlink. Also, 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 transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The disclosure for this sale can be found here. Insiders have sold a total of 33,003 shares of company stock worth $3,352,406 in the last three months. 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.