Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Bank of Montreal Can

Bank of Montreal Can raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.0% during the second quarter, HoldingsChannel.com reports. The firm owned 620,509 shares of the financial services provider’s stock after buying an additional 40,328 shares during the period. Bank of Montreal Can’s holdings in Iron Mountain were worth $54,983,000 as of its most recent SEC filing.

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

Iron Mountain Price Performance

Shares of IRM opened at $119.32 on Thursday. The company has a market capitalization of $35.00 billion, a P/E ratio of 180.79, a P/E/G ratio of 7.09 and a beta of 1.00. The business’s 50-day moving average is $109.47 and its two-hundred day moving average is $92.03. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $120.54.

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 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 for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. Research analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.34%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group boosted their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Iron Mountain from $82.00 to $121.00 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 issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $106.00.

Insider Buying and Selling at Iron Mountain

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

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.