Iron Mountain Incorporated (NYSE:IRM) Stake Reduced by Venture Visionary Partners LLC

Venture Visionary Partners LLC trimmed its stake in Iron Mountain Incorporated (NYSE:IRM) by 18.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 18,784 shares of the financial services provider’s stock after selling 4,234 shares during the quarter. Venture Visionary Partners LLC’s holdings in Iron Mountain were worth $2,232,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain in the 2nd quarter worth approximately $32,000. West Branch Capital LLC bought a new position in shares of Iron Mountain in the third quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain during the second quarter valued at $36,000. Headlands Technologies LLC bought a new stake in shares of Iron Mountain during the first quarter valued at about $38,000. Finally, Family Firm Inc. acquired a new stake in Iron Mountain in the second quarter worth about $45,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $123.44 on Tuesday. The stock’s fifty day simple moving average is $115.43 and its 200 day simple moving average is $96.96. The stock has a market capitalization of $36.18 billion, a price-to-earnings ratio of 187.03, a PEG ratio of 7.22 and a beta of 1.00. 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 52-week low of $57.36 and a 52-week high of $125.81.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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 return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. Iron Mountain’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.32%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s payout ratio is presently 433.33%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Iron Mountain 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 transaction of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,503 shares of company stock worth $3,511,505 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

IRM has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays raised their price objective 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. JPMorgan Chase & Co. increased their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group raised their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

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.