Promethos Capital LLC Increases Position in Iron Mountain Incorporated (NYSE:IRM)

Promethos Capital LLC increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 119.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,342 shares of the financial services provider’s stock after buying an additional 27,380 shares during the period. Iron Mountain comprises 1.7% of Promethos Capital LLC’s portfolio, making the stock its 23rd largest holding. Promethos Capital LLC’s holdings in Iron Mountain were worth $4,512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain in the 2nd quarter valued at about $32,000. Transcendent Capital Group LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter worth approximately $36,000. Heritage Wealth Advisors acquired a new position in shares of Iron Mountain during the 4th quarter worth approximately $38,000. Finally, Headlands Technologies LLC purchased a new stake in Iron Mountain in the 1st quarter valued at approximately $38,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 of the company’s stock, valued at approximately $1,540,000. The transaction was disclosed in a filing with the SEC, 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 value of $989,230.00. Following the sale, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,003 shares of company stock worth $3,352,406. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Down 2.0 %

Shares of IRM opened at $114.13 on Friday. The stock’s fifty day simple moving average is $107.49 and its 200 day simple moving average is $90.73. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $118.46. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm 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.

Iron Mountain (NYSE:IRM) last released 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). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a $0.715 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.51%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is presently 433.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. The Goldman Sachs Group increased 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. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised their target price 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. Finally, Wells Fargo & Company boosted their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

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.