Mather Group LLC. Sells 1,545 Shares of Iron Mountain Incorporated (NYSE:IRM)

Mather Group LLC. cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 38.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,469 shares of the financial services provider’s stock after selling 1,545 shares during the period. Mather Group LLC.’s holdings in Iron Mountain were worth $293,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Daiwa Securities Group Inc. increased its position in shares of Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after purchasing an additional 475,849 shares during the last quarter. Legal & General Group Plc grew its position in Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares during the period. AGF Management Ltd. increased its holdings 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 worth $201,232,000 after buying an additional 972,101 shares during the last quarter. Bank of New York Mellon Corp raised its position in Iron Mountain by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after acquiring an additional 6,562 shares during the period. Finally, Centersquare Investment Management LLC boosted its stake in Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IRM has been the subject of several research analyst reports. 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 note on Monday, September 23rd. The Goldman Sachs Group raised their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays upped their price target on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $113.00.

Iron Mountain Stock Up 1.1 %

Shares of NYSE IRM opened at $120.34 on Friday. 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 company has a market cap of $35.30 billion, a P/E ratio of 154.28, a P/E/G ratio of 7.22 and a beta of 1.00. Iron Mountain Incorporated has a 52 week low of $57.36 and a 52 week high of $120.70. The business has a 50-day simple moving average of $113.74 and a two-hundred day simple moving average of $95.19.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. Iron Mountain’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. Research analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is 366.67%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO John Tomovcsik sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,003 shares of company stock valued at $3,761,505. Company insiders own 2.10% of the company’s stock.

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.