Garden State Investment Advisory Services LLC Sells 177 Shares of Iron Mountain Incorporated (NYSE:IRM)

Garden State Investment Advisory Services LLC trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,662 shares of the financial services provider’s stock after selling 177 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Iron Mountain were worth $511,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain during the second quarter worth approximately $32,000. Transcendent Capital Group LLC acquired a new position in Iron Mountain in the 4th quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter valued at $36,000. Heritage Wealth Advisors bought a new position in shares of Iron Mountain in the fourth quarter worth $38,000. Finally, Headlands Technologies LLC acquired a new position in Iron Mountain in the first quarter valued at about $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

NYSE IRM opened at $115.36 on Friday. The firm’s fifty day moving average price is $108.27 and its two-hundred day moving average price is $91.15. The stock has a market cap of $33.82 billion, a PE ratio of 174.79, a PEG ratio of 6.85 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $118.46.

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

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders 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 2.48%. 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 payout ratio is presently 433.33%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, July 8th. The shares were sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $27,078,583.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO John Tomovcsik sold 2,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the chief operating officer now directly owns 17,866 shares of the company’s stock, valued at $1,786,600. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred 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. In the last ninety days, insiders sold 33,003 shares of company stock worth $3,352,406. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

IRM has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. 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 research note on Friday, August 2nd. The Goldman Sachs Group upped their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” 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 stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

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.