Axa S.A. Sells 71,882 Shares of Iron Mountain Incorporated (NYSE:IRM)

Axa S.A. cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 80.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,167 shares of the financial services provider’s stock after selling 71,882 shares during the period. Axa S.A.’s holdings in Iron Mountain were worth $1,539,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain during the second quarter worth approximately $32,000. Transcendent Capital Group LLC bought a new position in shares of Iron Mountain during the 4th quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iron Mountain during the 2nd quarter valued at $36,000. Headlands Technologies LLC bought a new stake in Iron Mountain in the first quarter worth $38,000. Finally, Family Firm Inc. purchased a new position in Iron Mountain during the second quarter worth $45,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

NYSE IRM opened at $118.83 on Tuesday. The company has a market cap of $34.83 billion, a PE ratio of 180.05, a P/E/G ratio of 7.09 and a beta of 1.00. The firm’s 50 day moving average price is $110.60 and its 200-day moving average price is $92.92. 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 52-week low of $56.51 and a 52-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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 earnings per share. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.17 EPS 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 given a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.41%. Iron Mountain’s dividend payout ratio is presently 433.33%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO John Tomovcsik sold 2,866 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $105.00, for a total transaction of $300,930.00. Following the sale, the chief operating officer now owns 15,000 shares in the company, valued at $1,575,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $27,078,583.50. The disclosure for this sale can be found here. Insiders sold a total of 33,003 shares of company stock worth $3,352,406 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IRM shares. The Goldman Sachs Group raised their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted 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, Stifel Nicolaus upped their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

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.