Cetera Investment Advisers Sells 56,668 Shares of Iron Mountain Incorporated (NYSE:IRM)

Cetera Investment Advisers trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 24.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 173,195 shares of the financial services provider’s stock after selling 56,668 shares during the quarter. Cetera Investment Advisers’ holdings in Iron Mountain were worth $15,522,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IRM shares. Wells Fargo & Company lifted their target price 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. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Iron Mountain Trading Down 0.1 %

Iron Mountain stock opened at $118.28 on Friday. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $120.54. The company has a market capitalization of $34.67 billion, a price-to-earnings ratio of 179.21, a price-to-earnings-growth ratio of 7.09 and a beta of 1.00. The business’s fifty day simple moving average is $111.82 and its two-hundred day simple moving average is $93.55. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). The firm had revenue of $1.53 billion for 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 business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.42%. Iron Mountain’s dividend payout ratio is 433.33%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $27,078,583.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Iron Mountain news, COO John Tomovcsik sold 2,500 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the chief operating officer now owns 17,866 shares of the company’s stock, valued at approximately $1,786,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,003 shares of company stock worth $3,352,406. 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.