Elo Mutual Pension Insurance Co Buys 2,110 Shares of Iron Mountain Incorporated (NYSE:IRM)

Elo Mutual Pension Insurance Co raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,704 shares of the financial services provider’s stock after purchasing an additional 2,110 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Iron Mountain were worth $2,572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its stake in Iron Mountain by 98.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,552 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 769 shares during the period. Brown Advisory Inc. increased its position in shares of Iron Mountain by 2.3% during the fourth quarter. Brown Advisory Inc. now owns 10,094 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 224 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Iron Mountain by 13.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,452 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 1,250 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Iron Mountain by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 48,996 shares of the financial services provider’s stock worth $3,429,000 after purchasing an additional 748 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in Iron Mountain by 0.7% during the fourth quarter. D.A. Davidson & CO. now owns 48,989 shares of the financial services provider’s stock worth $3,428,000 after buying an additional 335 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IRM shares. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $99.83.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the 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 directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain 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 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 three months, insiders have sold 33,003 shares of company stock worth $3,352,406. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $114.13 on Friday. The stock has a market capitalization of $33.46 billion, a P/E ratio of 172.92, a price-to-earnings-growth 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 Incorporated has a 1 year low of $56.51 and a 1 year high of $118.46. The firm has a 50 day moving average of $107.49 and a 200-day moving average of $90.73.

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). 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%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, September 16th. This is an increase 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 2.51%. Iron Mountain’s payout ratio is currently 433.33%.

About Iron Mountain

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.