Holderness Investments Co. Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

Holderness Investments Co. decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,102 shares of the financial services provider’s stock after selling 698 shares during the period. Iron Mountain comprises approximately 0.9% of Holderness Investments Co.’s portfolio, making the stock its 26th biggest holding. Holderness Investments Co.’s holdings in Iron Mountain were worth $3,863,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. lifted its position in shares of Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after buying an additional 15,035,937 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Iron Mountain by 11.6% during the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after purchasing an additional 475,849 shares during the period. AGF Management Ltd. increased its stake in shares of Iron Mountain by 76.3% in the second 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 raised its position in shares of Iron Mountain by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after purchasing an additional 6,562 shares during the period. Finally, Centersquare Investment Management LLC lifted its stake in shares of Iron Mountain by 7,892.6% during the 1st 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 in the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Price Performance

Shares of NYSE IRM 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 firm has a market capitalization of $33.82 billion, a P/E ratio of 174.79, a P/E/G ratio of 6.85 and a beta of 1.00. The stock’s 50-day simple moving average is $108.27 and its two-hundred day simple moving average is $91.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $0.94 EPS. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal 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 given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.48%. Iron Mountain’s dividend payout ratio is 433.33%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’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 value of $1,453,991.25. Following the completion of 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 can be accessed through this link. In other 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 value of $989,230.00. Following the transaction, the director now owns 14,829 shares in the company, 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 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 sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,003 shares of company stock valued at $3,352,406. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IRM shares. Wells Fargo & Company lifted 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. JPMorgan Chase & Co. boosted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised 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. Finally, The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report 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 issued a buy rating to the company’s stock. According to MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus price target of $99.83.

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.