Global Retirement Partners LLC Sells 317 Shares of Iron Mountain Incorporated (NYSE:IRM)

Global Retirement Partners LLC lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,852 shares of the financial services provider’s stock after selling 317 shares during the quarter. Global Retirement Partners LLC’s holdings in Iron Mountain were worth $1,052,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Csenge Advisory Group boosted its position in Iron Mountain by 1.2% in the 2nd quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock valued at $853,000 after buying an additional 114 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Iron Mountain by 2.8% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock valued at $380,000 after buying an additional 117 shares during the last quarter. Perfromance Wealth Partners LLC boosted its position in Iron Mountain by 2.4% in the 2nd quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock valued at $449,000 after buying an additional 118 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Iron Mountain by 9.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 120 shares during the last quarter. Finally, Terra Nova Asset Management LLC boosted its position in shares of Iron Mountain by 0.4% in the 2nd quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock worth $2,905,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IRM shares. JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. The Goldman Sachs Group raised their price target 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, Barclays lifted their target price on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Iron Mountain Stock Performance

IRM opened at $125.76 on Friday. The business’s 50-day moving average price is $115.43 and its two-hundred day moving average price is $96.83. Iron Mountain Incorporated has a 1 year low of $57.36 and a 1 year high of $125.81. The company has a market capitalization of $36.86 billion, a price-to-earnings ratio of 190.55, a P/E/G ratio of 7.22 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) 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 firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business earned $0.94 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a $0.715 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is currently 433.33%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain 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 approximately $34,697,484. 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 Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the business’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 transaction of $989,230.00. Following the transaction, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,503 shares of company stock valued at $3,511,505. 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.