Global X Japan Co. Ltd. Buys New Shares in Iron Mountain Incorporated (NYSE:IRM)

Global X Japan Co. Ltd. bought a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 701 shares of the financial services provider’s stock, valued at approximately $63,000.

Several other hedge funds have also made changes to their positions in the stock. Csenge Advisory Group grew its stake 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 valued at $853,000 after purchasing an additional 114 shares during the last quarter. Perfromance Wealth Partners LLC grew its stake in shares of Iron Mountain by 2.4% during 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 last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Iron Mountain by 9.8% during 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 last quarter. Terra Nova Asset Management LLC grew 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 valued at $2,905,000 after purchasing an additional 120 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its stake 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 valued at $917,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 3.4 %

Shares of NYSE IRM opened at $114.15 on Wednesday. The company’s fifty day moving average is $104.65 and its 200-day moving average is $89.16. The stock has a market cap of $33.46 billion, a price-to-earnings ratio of 172.95, a P/E/G ratio of 6.56 and a beta of 1.00. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $114.93. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. Equities research analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.51%. This is a positive change 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 (DPR) is presently 433.33%.

Insider Buying and Selling

In related news, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. The disclosure for this sale can be found here. Insiders have sold a total of 82,805 shares of company stock worth $7,510,750 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised 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. Finally, 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 note on Friday, August 2nd. One 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Iron Mountain 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.