Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,553 shares of the financial services provider’s stock after selling 682 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Iron Mountain were worth $2,111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRM. Brown Advisory Inc. lifted its position in Iron Mountain by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 10,094 shares of the financial services provider’s stock valued at $706,000 after acquiring an additional 224 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake 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 valued at $3,429,000 after buying an additional 748 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at $210,000. Cambridge Investment Research Advisors Inc. raised its position in Iron Mountain by 25.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 163,998 shares of the financial services provider’s stock valued at $11,477,000 after purchasing an additional 32,937 shares during the last quarter. Finally, Commerce Bank boosted its stake in Iron Mountain by 2.1% during the 4th quarter. Commerce Bank now owns 22,247 shares of the financial services provider’s stock worth $1,557,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO John Tomovcsik sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the chief operating officer now owns 17,866 shares in the company, valued at $1,786,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $27,078,583.50. 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 quarter. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” 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 report on Friday, August 2nd. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Iron Mountain Stock Up 1.1 %

Shares of Iron Mountain stock opened at $115.36 on Monday. 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 Incorporated has a 1-year low of $56.51 and a 1-year high of $118.46. The business has a 50-day moving average of $108.27 and a 200-day moving average of $91.31. The company has a market capitalization of $33.82 billion, a PE ratio of 174.79, a P/E/G ratio of 6.85 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last released its earnings results 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 business had revenue of $1.53 billion for 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 firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

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