King Luther Capital Management Corp Has $1.57 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

King Luther Capital Management Corp boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,515 shares of the financial services provider’s stock after purchasing an additional 567 shares during the quarter. King Luther Capital Management Corp’s holdings in Iron Mountain were worth $1,570,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain in the second quarter valued at approximately $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Iron Mountain in the 2nd quarter valued at $36,000. Headlands Technologies LLC bought a new stake in shares of Iron Mountain during the 1st quarter valued at $38,000. Family Firm Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter worth $45,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Iron Mountain in the fourth quarter worth $36,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective 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. upped their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. 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. Finally, 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. One investment 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $99.83.

Iron Mountain Trading Up 1.1 %

NYSE IRM opened at $115.36 on Friday. The company has a market cap of $33.82 billion, a price-to-earnings ratio of 174.79, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $118.46. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The business’s fifty day moving average is $108.27 and its 200 day moving average is $91.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results 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). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be paid a dividend of $0.715 per share. The ex-dividend date is Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.48%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Insider Buying and Selling

In related news, COO John Tomovcsik sold 1,000 shares of the firm’s 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 approximately $1,540,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,540,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. The disclosure for this sale can be found here. Insiders have sold a total of 33,003 shares of company stock valued at $3,352,406 over the last 90 days. 2.10% of the stock is owned by insiders.

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.