Mackenzie Financial Corp Has $10.93 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Mackenzie Financial Corp trimmed its stake in Iron Mountain Incorporated (NYSE:IRM) by 6.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,945 shares of the financial services provider’s stock after selling 8,664 shares during the quarter. Mackenzie Financial Corp’s holdings in Iron Mountain were worth $10,929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cohen & Steers Inc. increased its position in Iron Mountain by 202.1% in 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 in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of 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 valued at $365,931,000 after acquiring an additional 475,849 shares in the last quarter. AGF Management Ltd. raised its position in shares of Iron Mountain by 76.3% during 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 during the period. Bank of New York Mellon Corp lifted its holdings in shares of Iron Mountain by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after purchasing an additional 6,562 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its stake in 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 purchasing an additional 1,519,237 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

IRM has been the subject of a number of analyst reports. 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 report on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Iron Mountain Price Performance

Iron Mountain stock opened at $118.83 on Tuesday. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $120.54. The company’s 50 day moving average price is $110.60 and its two-hundred day moving average price is $92.92. The stock has a market cap of $34.83 billion, a P/E ratio of 180.05, a P/E/G ratio of 7.09 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

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). 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 during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts predict 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 issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Insiders Place Their Bets

In other news, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. The sale was disclosed in a filing with the SEC, which is available 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 shares were 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 in the company, valued at $27,078,583.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,003 shares of company stock valued at $3,352,406. Company 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.