NBC Securities Inc. Trims Holdings in Iron Mountain Incorporated (NYSE:IRM)

NBC Securities Inc. decreased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,113 shares of the financial services provider’s stock after selling 280 shares during the period. NBC Securities Inc.’s holdings in Iron Mountain were worth $607,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain in the second quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iron Mountain in the 2nd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in Iron Mountain in the 1st quarter valued at $38,000. Family Firm Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter valued at $45,000. Finally, Optimum Investment Advisors bought a new position in shares of Iron Mountain in the first quarter worth $60,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,503 shares of company stock valued at $3,511,505 in the last quarter. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

IRM has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Barclays raised their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company upped their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Iron Mountain Stock Performance

Iron Mountain stock opened at $124.51 on Friday. The firm has a fifty day simple moving average of $115.09 and a two-hundred day simple moving average of $96.38. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a twelve month low of $57.36 and a twelve month high of $124.79. The company has a market capitalization of $36.50 billion, a PE ratio of 188.65, a P/E/G ratio of 7.22 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last issued its 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). The company had revenue of $1.53 billion for 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 company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. Research analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a dividend of $0.715 per share. 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 yield of 2.30%. The ex-dividend date was Monday, September 16th. Iron Mountain’s dividend payout ratio is currently 433.33%.

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.