Northwestern Mutual Wealth Management Co. Purchases 1,213 Shares of Iron Mountain Incorporated (NYSE:IRM)

Northwestern Mutual Wealth Management Co. increased its position in Iron Mountain Incorporated (NYSE:IRM) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,094 shares of the financial services provider’s stock after purchasing an additional 1,213 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Iron Mountain were worth $4,669,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in shares of Iron Mountain by 49.7% in the second quarter. NewEdge Advisors LLC now owns 44,040 shares of the financial services provider’s stock valued at $3,947,000 after buying an additional 14,625 shares in the last quarter. Creative Planning lifted its position in Iron Mountain by 16.3% in the 2nd quarter. Creative Planning now owns 96,822 shares of the financial services provider’s stock valued at $8,677,000 after acquiring an additional 13,583 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in Iron Mountain by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after purchasing an additional 402,625 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in Iron Mountain during the 2nd quarter worth approximately $70,000. Finally, Scientech Research LLC raised its stake in shares of Iron Mountain by 84.6% in the second quarter. Scientech Research LLC now owns 5,162 shares of the financial services provider’s stock worth $463,000 after purchasing an additional 2,366 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction 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 completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO John Tomovcsik sold 2,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer now directly owns 17,866 shares in the company, valued at approximately $1,786,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’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 transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $27,078,583.50. The disclosure for this sale can be found here. Insiders sold a total of 33,003 shares of company stock valued at $3,352,406 in the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $118.42 on Friday. The firm’s 50 day moving average is $111.39 and its 200 day moving average is $93.38. The stock has a market capitalization of $34.71 billion, a P/E ratio of 179.47, a PEG ratio of 7.09 and a beta of 1.00. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $120.54. 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 (NYSE:IRM) last announced its quarterly 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 net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the firm posted $0.94 earnings per share. Iron Mountain’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were paid a $0.715 dividend. The ex-dividend date was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.42%. Iron Mountain’s dividend payout ratio is currently 433.33%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IRM. The Goldman Sachs Group raised 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 boosted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. 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 report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $106.00.

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.