Canada Pension Plan Investment Board Decreases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Canada Pension Plan Investment Board lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 18.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 731,515 shares of the financial services provider’s stock after selling 165,475 shares during the period. Canada Pension Plan Investment Board owned approximately 0.25% of Iron Mountain worth $65,558,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brown Advisory Inc. grew its holdings in Iron Mountain by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 10,094 shares of the financial services provider’s stock worth $706,000 after purchasing an additional 224 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Iron Mountain by 1.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 48,996 shares of the financial services provider’s stock worth $3,429,000 after buying an additional 748 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in Iron Mountain during the 4th quarter valued at about $210,000. Cambridge Investment Research Advisors Inc. raised its stake in Iron Mountain by 25.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 163,998 shares of the financial services provider’s stock valued at $11,477,000 after buying an additional 32,937 shares during the last quarter. Finally, Commerce Bank boosted its holdings in Iron Mountain by 2.1% in the fourth quarter. Commerce Bank now owns 22,247 shares of the financial services provider’s stock worth $1,557,000 after acquiring an additional 450 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 1.1 %

Shares of Iron Mountain stock opened at $115.36 on Friday. The stock has a market cap of $33.82 billion, a PE ratio of 174.79, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00. The firm has a fifty day moving average price of $108.27 and a 200 day moving average price of $91.24. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $118.46. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $0.94 EPS. Equities research analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

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

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction 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 $1,725,799.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the company’s 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 in the company, valued at $1,725,799.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. 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 currently owned by corporate insiders.

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.