Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Dorsey Wright & Associates

Dorsey Wright & Associates reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 20.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,968 shares of the financial services provider’s stock after selling 999 shares during the period. Dorsey Wright & Associates’ holdings in Iron Mountain were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in IRM. Cohen & Steers Inc. lifted its stake in shares of Iron Mountain by 202.1% in the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after acquiring an additional 15,035,937 shares during the period. Centersquare Investment Management LLC lifted its stake in shares of Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the period. Legal & General Group Plc lifted its stake in shares of Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after acquiring an additional 1,286,694 shares during the period. AGF Management Ltd. lifted its stake in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Iron Mountain by 278.3% during the fourth quarter. Sei Investments Co. now owns 875,092 shares of the financial services provider’s stock valued at $61,239,000 after purchasing an additional 643,760 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the 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. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,003 shares of company stock worth $3,352,406. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on IRM shares. Stifel Nicolaus increased their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. increased their target price on shares of 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 increased 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. Finally, The Goldman Sachs Group increased their target price 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Iron Mountain Stock Down 0.6 %

Shares of NYSE:IRM opened at $116.64 on Friday. 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 company has a market cap of $34.19 billion, a PE ratio of 176.73, a price-to-earnings-growth 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 firm has a 50 day simple moving average of $110.22 and a 200 day simple moving average of $92.46.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results 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 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 firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 EPS. As a group, research analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 433.33%.

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.