Iron Mountain Incorporated (NYSE:IRM) Stock Holdings Increased by Promethos Capital LLC

Promethos Capital LLC grew its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 119.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,342 shares of the financial services provider’s stock after buying an additional 27,380 shares during the period. Iron Mountain comprises 1.7% of Promethos Capital LLC’s portfolio, making the stock its 23rd largest position. Promethos Capital LLC’s holdings in Iron Mountain were worth $4,512,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cohen & Steers Inc. grew its position in shares of Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after buying an additional 15,035,937 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after purchasing an additional 475,849 shares during the period. AGF Management Ltd. lifted its holdings in shares of Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after purchasing an additional 6,562 shares during the period. Finally, Centersquare Investment Management LLC grew its stake in 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 buying an additional 1,519,237 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IRM. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. The Goldman Sachs Group lifted 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. Finally, JPMorgan Chase & Co. boosted their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Insider Buying and Selling

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The disclosure for this sale can be found here. Insiders have sold a total of 33,003 shares of company stock valued at $3,352,406 over the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 2.0 %

Shares of NYSE:IRM opened at $114.13 on Friday. The company has a 50 day moving average of $107.49 and a 200-day moving average of $90.73. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm has a market cap of $33.46 billion, a P/E ratio of 172.92, a P/E/G ratio of 6.85 and a beta of 1.00. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $118.46.

Iron Mountain (NYSE:IRM) last released its 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). 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 analyst estimates of $1.50 billion. During the same quarter last year, the company earned $0.94 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, analysts anticipate 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 is Monday, September 16th. This represents a $2.86 annualized dividend and a yield of 2.51%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

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.