Morse Asset Management Inc Sells 1,000 Shares of Iron Mountain Incorporated (NYSE:IRM)

Morse Asset Management Inc trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,115 shares of the financial services provider’s stock after selling 1,000 shares during the period. Morse Asset Management Inc’s holdings in Iron Mountain were worth $2,520,000 at the end of the most recent reporting period.

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

Iron Mountain Stock Performance

IRM stock opened at $115.36 on Monday. Iron Mountain Incorporated has a 1-year low of $56.51 and a 1-year high of $118.46. The business’s 50-day moving average price is $108.27 and its two-hundred day moving average price is $91.31. The firm has a market cap of $33.82 billion, a PE ratio of 174.79, a P/E/G ratio of 6.85 and a beta of 1.00. 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 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). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. Iron Mountain’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated 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 sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the business’s 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 accessible through the SEC website. Also, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,003 shares of company stock valued at $3,352,406. Company 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.