KCM Investment Advisors LLC Raises Holdings in Iron Mountain Incorporated (NYSE:IRM)

KCM Investment Advisors LLC boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 22,158 shares of the financial services provider’s stock after buying an additional 248 shares during the quarter. KCM Investment Advisors LLC’s holdings in Iron Mountain were worth $1,986,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in shares of Iron Mountain by 4.0% in the 4th quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock valued at $322,000 after buying an additional 179 shares during the period. CWM LLC grew its position in Iron Mountain by 15.3% in the 4th quarter. CWM LLC now owns 6,758 shares of the financial services provider’s stock valued at $473,000 after acquiring an additional 896 shares in the last quarter. Duff & Phelps Investment Management Co. increased its stake in Iron Mountain by 28.0% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 56,070 shares of the financial services provider’s stock worth $3,924,000 after purchasing an additional 12,280 shares during the period. Essex Financial Services Inc. lifted its position in shares of Iron Mountain by 4.0% during the fourth quarter. Essex Financial Services Inc. now owns 16,487 shares of the financial services provider’s stock worth $1,154,000 after purchasing an additional 632 shares in the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new position in shares of Iron Mountain in the fourth quarter valued at approximately $403,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other news, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO John Tomovcsik sold 1,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares of the company’s stock, valued at $1,540,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 3,095 shares of the firm’s stock in a transaction dated 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. In the last three months, insiders sold 99,634 shares of company stock worth $8,874,690. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Up 1.1 %

IRM opened at $113.27 on Friday. The business has a 50 day moving average price of $101.52 and a two-hundred day moving average price of $86.82. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $114.93. The company has a market cap of $33.20 billion, a PE ratio of 171.62, a P/E/G ratio of 6.49 and a beta of 0.98. The company has a quick ratio of 0.86, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate 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 quarter last year, the business earned $0.94 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.52%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s dividend payout ratio is presently 433.33%.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of research reports. Stifel Nicolaus increased their target price 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. JPMorgan Chase & Co. increased their price objective 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 boosted their target price on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and an average 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.