Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 13.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 144,066 shares of the financial services provider’s stock after selling 22,842 shares during the quarter. Toronto Dominion Bank’s holdings in Iron Mountain were worth $12,911,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of IRM. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Iron Mountain by 61.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 56,131 shares of the financial services provider’s stock worth $5,030,000 after acquiring an additional 21,270 shares during the period. Xponance Inc. boosted its stake in shares of Iron Mountain by 69.7% in the second quarter. Xponance Inc. now owns 96,057 shares of the financial services provider’s stock valued at $8,609,000 after purchasing an additional 39,442 shares during the period. American Investment Services Inc. acquired a new stake in Iron Mountain during the 2nd quarter valued at $278,000. Bank of Montreal Can increased its stake in Iron Mountain by 7.0% during the 2nd quarter. Bank of Montreal Can now owns 620,509 shares of the financial services provider’s stock worth $54,983,000 after buying an additional 40,328 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Iron Mountain by 17.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 40,718 shares of the financial services provider’s stock worth $3,649,000 after buying an additional 6,164 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IRM shares. JPMorgan Chase & Co. raised their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price objective on 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 upped their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus raised their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $106.00.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Iron Mountain news, 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 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 approximately $27,078,583.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The disclosure for this sale can be found here. Insiders sold a total of 33,003 shares of company stock worth $3,352,406 in the last three months. 2.10% of the stock is owned by insiders.

Iron Mountain Price Performance

Shares of IRM opened at $116.64 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm has a market cap of $34.19 billion, a price-to-earnings ratio of 176.73, a PEG ratio of 7.09 and a beta of 1.00. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $120.54. The stock has a 50 day moving average of $110.22 and a 200-day moving average of $92.46.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $0.94 EPS. Iron Mountain’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.45%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is currently 433.33%.

Iron Mountain Company 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.