Halpern Financial Inc. Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Halpern Financial Inc. trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 15.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 724 shares of the financial services provider’s stock after selling 137 shares during the quarter. Halpern Financial Inc.’s holdings in Iron Mountain were worth $86,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. KBC Group NV grew its holdings in shares of Iron Mountain by 165.6% in the fourth quarter. KBC Group NV now owns 50,121 shares of the financial services provider’s stock worth $3,507,000 after acquiring an additional 31,247 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Iron Mountain by 4.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 231,590 shares of the financial services provider’s stock valued at $16,207,000 after purchasing an additional 9,320 shares during the last quarter. NEOS Investment Management LLC purchased a new stake in shares of Iron Mountain during the 4th quarter valued at about $289,000. Rafferty Asset Management LLC lifted its stake in shares of Iron Mountain by 20.1% in the 4th quarter. Rafferty Asset Management LLC now owns 39,168 shares of the financial services provider’s stock worth $2,741,000 after purchasing an additional 6,561 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Iron Mountain by 102.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 46,879 shares of the financial services provider’s stock worth $3,281,000 after buying an additional 23,678 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of Iron Mountain stock traded down $0.15 on Friday, hitting $118.28. 879,318 shares of the company traded hands, compared to its average volume of 1,629,126. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $120.54. The business has a 50-day simple moving average of $112.22 and a 200 day simple moving average of $93.82. 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 market capitalization of $34.67 billion, a P/E ratio of 179.21, a price-to-earnings-growth ratio of 7.09 and a beta of 1.00.

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). 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 during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. Research analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on IRM. The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. 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. Finally, Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction 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 sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the company’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 sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $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. 2.10% of the stock is currently owned by corporate insiders.

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.