Ensign Peak Advisors Inc Purchases 30,293 Shares of Iron Mountain Incorporated (NYSE:IRM)

Ensign Peak Advisors Inc grew its position in Iron Mountain Incorporated (NYSE:IRM) by 15.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 223,686 shares of the financial services provider’s stock after buying an additional 30,293 shares during the quarter. Ensign Peak Advisors Inc owned 0.08% of Iron Mountain worth $20,047,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in Iron Mountain by 2.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after acquiring an additional 7,486 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after buying an additional 110,551 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Iron Mountain by 19.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after buying an additional 12,540 shares during the period. Goldman Sachs Group Inc. boosted its position in Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock valued at $65,787,000 after acquiring an additional 59,381 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in shares of Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 2.7 %

Shares of Iron Mountain stock opened at $118.42 on Tuesday. The firm’s 50 day simple moving average is $108.68 and its two-hundred day simple moving average is $91.58. The firm has a market capitalization of $34.71 billion, a price-to-earnings ratio of 179.42, a PEG ratio of 6.85 and a beta of 1.00. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $118.74. 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 (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). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business earned $0.94 EPS. Analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.42%. The ex-dividend date is Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is 433.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IRM shares. Stifel Nicolaus upped their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company raised their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on shares of 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. raised their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Insiders Place Their Bets

In other news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now owns 14,829 shares in the company, valued at $1,725,799.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,003 shares of company stock valued at $3,352,406. 2.10% of the stock is owned by insiders.

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.