Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 46,556 shares of the financial services provider’s stock after selling 403 shares during the period. Iron Mountain accounts for about 1.5% of Wakefield Asset Management LLLP’s portfolio, making the stock its 9th largest position. Wakefield Asset Management LLLP’s holdings in Iron Mountain were worth $4,174,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cohen & Steers Inc. grew its position 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 acquiring an additional 15,035,937 shares during the period. Norges Bank purchased a new position in shares of Iron Mountain during the 4th quarter worth $228,391,000. Centersquare Investment Management LLC increased its position in shares of Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after purchasing an additional 1,519,237 shares during the last quarter. Sei Investments Co. raised its holdings in Iron Mountain by 278.3% in the 4th quarter. Sei Investments Co. now owns 875,092 shares of the financial services provider’s stock valued at $61,239,000 after buying an additional 643,760 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position 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 valued at $365,931,000 after buying an additional 475,849 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now directly 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 is available through the SEC website. In other news, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Daniel Borges sold 3,095 shares of the business’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 value of $268,738.85. The disclosure for this sale can be found here. Insiders sold 82,805 shares of company stock worth $7,510,750 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 0.4 %

Shares of NYSE IRM opened at $109.48 on Friday. The stock has a market cap of $32.09 billion, a P/E ratio of 165.88, a PEG ratio of 6.78 and a beta of 1.00. The business’s fifty day simple moving average is $103.77 and its 200-day simple moving average is $88.34. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $114.93. 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 posted 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). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business earned $0.94 EPS. Iron Mountain’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is 433.33%.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $82.00 to $121.00 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. The Goldman Sachs Group boosted their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price target on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One investment 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

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.