Healthcare of Ontario Pension Plan Trust Fund Reduces Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Healthcare of Ontario Pension Plan Trust Fund reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,500 shares of the financial services provider’s stock after selling 1,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Iron Mountain were worth $5,601,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IRM. Cohen & Steers Inc. raised its stake in Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after buying an additional 15,035,937 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Iron Mountain by 11.6% in the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after buying an additional 475,849 shares in the last quarter. Legal & General Group Plc raised its stake in Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after buying an additional 1,286,694 shares in the last quarter. AGF Management Ltd. raised its stake in Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after buying an additional 972,101 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Iron Mountain by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after buying an additional 6,562 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 0.1 %

Shares of Iron Mountain stock opened at $118.28 on Friday. Iron Mountain Incorporated has a 1-year low of $56.51 and a 1-year high of $120.54. The company’s fifty day simple moving average is $112.22 and its 200-day simple moving average is $93.82. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $34.67 billion, a PE ratio of 179.21, a P/E/G ratio of 7.09 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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 net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $0.94 EPS. The company’s revenue was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

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

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s 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 sale, the chief executive officer now owns 295,650 shares in the company, valued at $27,078,583.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction of $300,930.00. Following the sale, the chief operating officer now directly owns 15,000 shares in the company, valued at approximately $1,575,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 295,650 shares in the company, valued at $27,078,583.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,003 shares of company stock valued at $3,352,406. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IRM shares. 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. The Goldman Sachs Group raised their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their target price 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, Stifel Nicolaus raised their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $106.00.

Iron Mountain 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.