Mackenzie Financial Corp Reduces Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Mackenzie Financial Corp cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 6.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 121,945 shares of the financial services provider’s stock after selling 8,664 shares during the quarter. Mackenzie Financial Corp’s holdings in Iron Mountain were worth $10,929,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRM. MBB Public Markets I LLC grew its holdings in Iron Mountain by 405.1% during the 2nd quarter. MBB Public Markets I LLC now owns 19,917 shares of the financial services provider’s stock valued at $1,785,000 after buying an additional 15,974 shares in the last quarter. APG Asset Management N.V. grew its stake in Iron Mountain by 186.2% during the second quarter. APG Asset Management N.V. now owns 37,044 shares of the financial services provider’s stock valued at $3,098,000 after acquiring an additional 24,100 shares in the last quarter. APG Asset Management US Inc. bought a new stake in Iron Mountain during the 2nd quarter worth approximately $35,876,000. AQR Capital Management LLC boosted its holdings in Iron Mountain by 0.6% in the 2nd quarter. AQR Capital Management LLC now owns 50,238 shares of the financial services provider’s stock valued at $4,502,000 after purchasing an additional 322 shares during the period. Finally, Trinity Legacy Partners LLC grew its position in shares of Iron Mountain by 0.6% during the 2nd quarter. Trinity Legacy Partners LLC now owns 54,870 shares of the financial services provider’s stock valued at $4,917,000 after purchasing an additional 333 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain 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 sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Wendy J. Murdock sold 8,500 shares of the company’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 sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s 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 transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,003 shares of company stock valued at $3,352,406. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IRM shares. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their price objective 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. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Iron Mountain Trading Up 1.8 %

NYSE IRM opened at $118.83 on Tuesday. The stock has a 50-day moving average of $110.60 and a 200-day moving average of $92.92. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 1-year low of $56.51 and a 1-year high of $120.54. The firm has a market cap of $34.83 billion, a PE ratio of 180.05, a price-to-earnings-growth ratio of 7.09 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last released 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 company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company posted $0.94 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a $0.715 dividend. This is a positive change 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 2.41%. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) 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.