Mathes Company Inc. Trims Stake in Iron Mountain Incorporated (NYSE:IRM)

Mathes Company Inc. cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 18.1% in the second quarter, HoldingsChannel.com reports. The firm owned 8,150 shares of the financial services provider’s stock after selling 1,800 shares during the quarter. Mathes Company Inc.’s holdings in Iron Mountain were worth $730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in shares of Iron Mountain by 98.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,552 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 769 shares during the last quarter. Brown Advisory Inc. increased its holdings in Iron Mountain by 2.3% in the 4th quarter. Brown Advisory Inc. now owns 10,094 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 224 shares during the last quarter. Norges Bank purchased a new stake in Iron Mountain in the fourth quarter valued at approximately $228,391,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Iron Mountain by 13.6% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,452 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 1,250 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Iron Mountain by 1.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 48,996 shares of the financial services provider’s stock worth $3,429,000 after buying an additional 748 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $91.59, for a total value of $1,453,991.25. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $27,078,583.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The disclosure for this sale can be found here. Insiders have sold 33,003 shares of company stock valued at $3,352,406 over the last quarter. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Performance

Shares of IRM opened at $116.45 on Thursday. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $118.46. The stock has a market capitalization of $34.14 billion, a PE ratio of 176.44, a PEG ratio of 6.85 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a 50-day simple moving average of $107.06 and a 200-day simple moving average of $90.55.

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

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a dividend of $0.715 per share. 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 2.46%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is presently 433.33%.

Wall Street Analyst Weigh In

IRM has been the topic of several research analyst reports. Stifel Nicolaus boosted their price objective on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. 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. Finally, Wells Fargo & Company upped their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” 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 given a buy rating to the company. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $99.83.

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.