Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Chicago Capital LLC

Chicago Capital LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,092 shares of the financial services provider’s stock after selling 940 shares during the quarter. Chicago Capital LLC’s holdings in Iron Mountain were worth $7,626,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Csenge Advisory Group increased its stake in Iron Mountain by 1.2% in the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 114 shares during the period. Perfromance Wealth Partners LLC increased its stake in Iron Mountain by 2.4% in the second quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 118 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Iron Mountain by 9.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 120 shares during the period. Terra Nova Asset Management LLC increased its stake in Iron Mountain by 0.4% in the second quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock valued at $2,905,000 after purchasing an additional 120 shares during the period. Finally, Jaffetilchin Investment Partners LLC increased its stake in Iron Mountain by 1.1% in the first quarter. Jaffetilchin Investment Partners LLC now owns 11,432 shares of the financial services provider’s stock valued at $917,000 after purchasing an additional 122 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’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 transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,805 shares of company stock worth $7,510,750. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on IRM. JPMorgan Chase & Co. lifted their price objective 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 boosted their price target 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. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. 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 company. According to data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $99.83.

Iron Mountain Trading Up 0.4 %

IRM stock traded up $0.40 on Friday, hitting $109.48. 1,471,068 shares of the company were exchanged, compared to its average volume of 1,643,019. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $114.93. 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 business’s fifty day moving average is $103.77 and its two-hundred day moving average is $88.34. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 165.88, a price-to-earnings-growth ratio of 6.78 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business 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 was up 13.0% on a year-over-year basis. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current 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 given a $0.715 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 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.