Oregon Public Employees Retirement Fund Grows Holdings in Iron Mountain Incorporated (NYSE:IRM)

Oregon Public Employees Retirement Fund increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,149 shares of the financial services provider’s stock after purchasing an additional 219 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Iron Mountain were worth $2,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IRM. Csenge Advisory Group grew its holdings in shares of Iron Mountain by 1.2% during the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after buying an additional 114 shares during the last quarter. Perfromance Wealth Partners LLC grew its stake in shares of Iron Mountain by 2.4% in the 2nd 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 last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Iron Mountain by 9.8% in the 2nd 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 last quarter. Terra Nova Asset Management LLC raised its stake in shares of Iron Mountain by 0.4% during the second quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock worth $2,905,000 after purchasing an additional 120 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its holdings in shares of Iron Mountain by 1.1% during the first quarter. Jaffetilchin Investment Partners LLC now owns 11,432 shares of the financial services provider’s stock worth $917,000 after purchasing an additional 122 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

IRM opened at $109.08 on Friday. Iron Mountain Incorporated has a 1-year low of $56.51 and a 1-year high of $114.93. The stock has a market cap of $31.97 billion, a P/E ratio of 165.27, a P/E/G ratio of 6.78 and a beta of 1.00. The stock’s 50 day simple moving average is $103.37 and its 200 day simple moving average is $88.05. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.62%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is presently 433.33%.

Analysts Set New Price Targets

Several equities analysts have issued reports on IRM shares. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective 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. 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 report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $99.83.

Insider Buying and Selling at Iron Mountain

In related news, CAO Daniel Borges sold 3,095 shares of Iron Mountain 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward Baker-Greene sold 6,200 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.35, for a total value of $547,770.00. Following the completion of the sale, the executive vice president now owns 11,311 shares in the company, valued at $999,326.85. The disclosure for this sale can be found here. Insiders have sold 82,805 shares of company stock valued at $7,510,750 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

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.