Mirae Asset Global Investments Co. Ltd. Sells 3,297 Shares of Iron Mountain Incorporated (NYSE:IRM)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,774 shares of the financial services provider’s stock after selling 3,297 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Iron Mountain were worth $4,993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. West Branch Capital LLC acquired a new stake in shares of Iron Mountain in the third quarter valued at approximately $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain in the 2nd quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain in the 2nd quarter valued at $36,000. Headlands Technologies LLC bought a new stake in shares of Iron Mountain during the first quarter worth $38,000. Finally, Family Firm Inc. acquired a new position in shares of Iron Mountain during the second quarter valued at $45,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. 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 report on Friday, August 2nd. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. The Goldman Sachs Group raised their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Barclays increased their price target on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.50.

Insiders Place Their Bets

In other news, COO John Tomovcsik sold 2,866 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction of $300,930.00. Following the completion of the sale, the chief operating officer now owns 15,000 shares of the company’s stock, valued at $1,575,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the transaction, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The shares were 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,503 shares of company stock worth $3,511,505. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 0.3 %

IRM opened at $128.14 on Tuesday. Iron Mountain Incorporated has a twelve month low of $57.36 and a twelve month high of $130.24. The firm has a market cap of $37.59 billion, a PE ratio of 164.28, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00. 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 firm’s fifty day moving average is $117.49 and its two-hundred day moving average is $98.98.

Iron Mountain (NYSE:IRM) last posted its 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 return on equity of 595.44% and a net margin of 3.94%. The business had revenue of $1.53 billion for 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. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.23%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio is presently 366.67%.

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.