Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 6.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,750 shares of the financial services provider’s stock after selling 200 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Iron Mountain were worth $246,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its stake 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 purchasing an additional 7,486 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $47,547,000 after buying an additional 110,551 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Iron Mountain by 6.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after buying an additional 59,381 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after acquiring an additional 12,540 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Iron Mountain by 6.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock valued at $30,637,000 after acquiring an additional 27,551 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Greg W. Mcintosh sold 13,923 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the sale, the executive vice president now directly owns 18,107 shares in the company, valued at $1,582,732.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Iron Mountain news, EVP Greg W. Mcintosh sold 13,923 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the completion of the transaction, the executive vice president now directly owns 18,107 shares in the company, valued at approximately $1,582,732.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 3,095 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The disclosure for this sale can be found here. Insiders sold 82,805 shares of company stock valued at $7,510,750 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note 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 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. Finally, The Goldman Sachs Group raised their target price 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Iron Mountain Price Performance

Iron Mountain stock traded up $0.40 during midday trading on Friday, reaching $109.48. The company’s stock had a trading volume of 1,471,068 shares, compared to its average volume of 1,643,019. The firm has a market capitalization of $32.09 billion, a PE ratio of 165.88, a P/E/G ratio of 6.78 and a beta of 1.00. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $114.93. The stock’s 50 day simple moving average is $103.77 and its 200 day simple moving average is $88.48. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last announced its quarterly 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 company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.61%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 433.33%.

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.