Dana Investment Advisors Inc. Has $17.58 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Dana Investment Advisors Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 15.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,201 shares of the financial services provider’s stock after selling 34,849 shares during the quarter. Dana Investment Advisors Inc. owned about 0.07% of Iron Mountain worth $17,583,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of Iron Mountain by 38.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 19,640 shares of the financial services provider’s stock worth $1,374,000 after purchasing an additional 5,466 shares in the last quarter. TD Asset Management Inc grew its stake in Iron Mountain by 1.5% during the fourth quarter. TD Asset Management Inc now owns 292,271 shares of the financial services provider’s stock worth $20,453,000 after buying an additional 4,361 shares in the last quarter. Bank of Nova Scotia increased its holdings in Iron Mountain by 79.3% in the 4th quarter. Bank of Nova Scotia now owns 36,275 shares of the financial services provider’s stock valued at $2,538,000 after buying an additional 16,049 shares during the period. California State Teachers Retirement System raised its position in shares of Iron Mountain by 1.3% in the 4th quarter. California State Teachers Retirement System now owns 461,203 shares of the financial services provider’s stock valued at $32,275,000 after buying an additional 5,754 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Iron Mountain by 165.6% during the 4th 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. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 1.8 %

NYSE IRM opened at $118.83 on Tuesday. The company has a market cap of $34.83 billion, a price-to-earnings ratio of 180.05, a price-to-earnings-growth ratio of 7.09 and a beta of 1.00. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $120.54. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The business’s fifty day moving average is $110.60 and its 200 day moving average is $92.92.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.94 earnings per share. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is 433.33%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IRM. Wells Fargo & Company lifted their price objective 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. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their target price 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 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Insider Buying and Selling

In related news, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Edward Baker-Greene sold 2,262 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Tomovcsik sold 1,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares of the company’s stock, valued at $1,540,000. The disclosure for this sale can be found here. Insiders have sold a total of 33,003 shares of company stock valued at $3,352,406 over the last 90 days. 2.10% of the stock is owned by 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.