Mutual of America Capital Management LLC Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

Mutual of America Capital Management LLC trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,970 shares of the financial services provider’s stock after selling 1,315 shares during the period. Mutual of America Capital Management LLC’s holdings in Iron Mountain were worth $3,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Axxcess Wealth Management LLC purchased a new position in Iron Mountain in the second quarter worth about $1,043,000. Edgestream Partners L.P. boosted its holdings in shares of Iron Mountain by 147.8% in the 2nd quarter. Edgestream Partners L.P. now owns 56,679 shares of the financial services provider’s stock worth $5,080,000 after purchasing an additional 33,803 shares during the period. Wulff Hansen & CO. increased its position in shares of Iron Mountain by 8,862.0% during the 2nd quarter. Wulff Hansen & CO. now owns 405,082 shares of the financial services provider’s stock valued at $36,303,000 after purchasing an additional 400,562 shares during the last quarter. One Capital Management LLC raised its holdings in Iron Mountain by 795.5% during the 2nd quarter. One Capital Management LLC now owns 62,231 shares of the financial services provider’s stock valued at $5,577,000 after buying an additional 55,282 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its position in Iron Mountain by 1.8% in the second quarter. J.W. Cole Advisors Inc. now owns 6,976 shares of the financial services provider’s stock worth $625,000 after buying an additional 126 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IRM. Stifel Nicolaus increased their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group boosted their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Iron Mountain Trading Up 2.7 %

Shares of NYSE IRM opened at $118.42 on Tuesday. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $118.74. 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 fifty day simple moving average of $108.68 and a two-hundred day simple moving average of $91.58. The firm has a market cap of $34.71 billion, a PE ratio of 179.42, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last issued 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). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. Analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal 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 paid a dividend of $0.715 per share. 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 2.42%. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s dividend payout ratio is 433.33%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain 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 transaction of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 295,650 shares in the company, valued at $27,078,583.50. The disclosure for this sale can be found here. Insiders have sold 33,003 shares of company stock worth $3,352,406 over the last quarter. Insiders own 2.10% of the company’s stock.

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.