Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Sei Investments Co.

Sei Investments Co. grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 19.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,125,491 shares of the financial services provider’s stock after acquiring an additional 181,763 shares during the quarter. Sei Investments Co. owned about 0.38% of Iron Mountain worth $100,867,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain during the 2nd quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain during the second quarter worth $36,000. Headlands Technologies LLC purchased a new stake in shares of Iron Mountain during the first quarter valued at $38,000. Family Firm Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter valued at $45,000. Finally, Transcendent Capital Group LLC purchased a new position in Iron Mountain in the 4th quarter worth $36,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In other 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 transaction of $1,453,991.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $27,078,583.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now owns 14,000 shares in the company, valued at approximately $1,540,000. The disclosure for this sale can be found here. Insiders sold a total of 33,003 shares of company stock worth $3,352,406 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on IRM shares. Stifel Nicolaus increased their price objective on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company increased their price target 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. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.83.

Iron Mountain Trading Up 1.1 %

Shares of NYSE:IRM opened at $115.36 on Friday. The company has a market capitalization of $33.82 billion, a PE ratio of 174.79, a PEG ratio of 6.85 and a beta of 1.00. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $118.46. The business has a 50 day moving average of $108.27 and a two-hundred day moving average of $91.24. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63.

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 firm 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 revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. As a group, analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced 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 is Monday, September 16th. 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%. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

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.