Iron Mountain Incorporated (NYSE:IRM) is Green Alpha Advisors LLC’s 3rd Largest Position

Green Alpha Advisors LLC reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,759 shares of the financial services provider’s stock after selling 1,394 shares during the quarter. Iron Mountain accounts for about 2.3% of Green Alpha Advisors LLC’s holdings, making the stock its 3rd largest holding. Green Alpha Advisors LLC’s holdings in Iron Mountain were worth $2,942,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in Iron Mountain by 4.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 231,590 shares of the financial services provider’s stock valued at $16,207,000 after acquiring an additional 9,320 shares during the period. Rafferty Asset Management LLC boosted its holdings in Iron Mountain by 20.1% during the 4th quarter. Rafferty Asset Management LLC now owns 39,168 shares of the financial services provider’s stock valued at $2,741,000 after acquiring an additional 6,561 shares during the period. Ossiam boosted its holdings in Iron Mountain by 2.2% during the 4th quarter. Ossiam now owns 33,685 shares of the financial services provider’s stock valued at $2,357,000 after acquiring an additional 719 shares during the period. Sei Investments Co. lifted its holdings in Iron Mountain by 278.3% in the 4th quarter. Sei Investments Co. now owns 875,092 shares of the financial services provider’s stock worth $61,239,000 after buying an additional 643,760 shares during the period. Finally, Elo Mutual Pension Insurance Co lifted its holdings in Iron Mountain by 4.3% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 25,481 shares of the financial services provider’s stock worth $1,783,000 after buying an additional 1,048 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of Iron Mountain stock traded down $1.50 during trading on Monday, hitting $116.78. 999,704 shares of the company’s stock traded hands, compared to its average volume of 1,625,866. Iron Mountain Incorporated has a 1 year low of $57.36 and a 1 year high of $120.54. The business has a 50-day simple moving average of $112.56 and a 200-day simple moving average of $94.27. The stock has a market capitalization of $34.23 billion, a P/E ratio of 176.94, a PEG ratio of 7.09 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 EPS. As a group, analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were paid a $0.715 dividend. The ex-dividend date was 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 2.45%. Iron Mountain’s dividend payout ratio is 433.33%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their target price on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus increased their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group increased their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $106.00.

Insider Activity

In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the sale, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,128 shares of company stock worth $1,898,415 in the last three months. 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.