XTX Topco Ltd reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 54.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,809 shares of the financial services provider’s stock after selling 8,134 shares during the quarter. XTX Topco Ltd’s holdings in Iron Mountain were worth $610,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain during the second quarter valued at $32,000. Transcendent Capital Group LLC acquired a new position in Iron Mountain during the 4th quarter valued at about $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain in the 2nd quarter worth approximately $36,000. Heritage Wealth Advisors acquired a new stake in shares of Iron Mountain during the 4th quarter valued at $38,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Iron Mountain during the first quarter valued at $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.
Insider Activity at Iron Mountain
In other news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain 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 of the company’s stock, valued at approximately $1,725,799.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,003 shares of company stock valued at $3,352,406. Corporate insiders own 2.10% of the company’s stock.
Iron Mountain Price Performance
Iron Mountain (NYSE:IRM – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. Iron Mountain’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 earnings per share. On average, equities analysts predict 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 issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.42%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.
Analysts Set New Price Targets
IRM has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report 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 note on Friday, August 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.
Read Our Latest Analysis on Iron Mountain
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.
See Also
- Five stocks we like better than Iron Mountain
- What is a Death Cross in Stocks?
- The Average 401k Balance by Age Explained
- What Are Dividend Achievers? An Introduction
- 3 Uranium Stocks To Gain as Microsoft Goes Nuclear to Power AI
- 3 REITs to Buy and Hold for the Long Term
- Biotech Boom Ahead? Key Stocks and ETFs to Watch Now
Receive News & Ratings for Iron Mountain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iron Mountain and related companies with MarketBeat.com's FREE daily email newsletter.