Dimensional Fund Advisors LP Has $384.12 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Dimensional Fund Advisors LP lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,286,068 shares of the financial services provider’s stock after selling 525 shares during the period. Dimensional Fund Advisors LP owned 1.46% of Iron Mountain worth $384,117,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. J.W. Cole Advisors Inc. lifted its holdings in shares of Iron Mountain by 1.8% during the second quarter. J.W. Cole Advisors Inc. now owns 6,976 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 126 shares during the period. Parallel Advisors LLC lifted its holdings in Iron Mountain by 8.2% in the second quarter. Parallel Advisors LLC now owns 3,217 shares of the financial services provider’s stock valued at $288,000 after buying an additional 243 shares during the period. Dai ichi Life Insurance Company Ltd acquired a new position in Iron Mountain in the second quarter valued at $1,641,000. CoreCap Advisors LLC acquired a new position in Iron Mountain in the second quarter valued at $2,518,000. Finally, Federated Hermes Inc. lifted its holdings in Iron Mountain by 1.2% in the second quarter. Federated Hermes Inc. now owns 50,547 shares of the financial services provider’s stock valued at $4,530,000 after buying an additional 614 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the sale, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Iron Mountain news, EVP Edward Baker-Greene sold 6,200 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.35, for a total value of $547,770.00. Following the completion of the sale, the executive vice president now directly owns 11,311 shares of the company’s stock, valued at approximately $999,326.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. The disclosure for this sale can be found here. Insiders sold a total of 65,787 shares of company stock valued at $6,025,002 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $118.19 on Tuesday. The firm’s 50-day moving average price is $106.61 and its 200-day moving average price is $90.31. Iron Mountain Incorporated has a 1-year low of $56.51 and a 1-year high of $118.46. The firm has a market capitalization of $34.65 billion, a P/E ratio of 179.08, a P/E/G ratio of 6.85 and a beta of 1.00. 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 posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share. Equities 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 announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.42%. Iron Mountain’s payout ratio is presently 433.33%.

Wall Street Analyst Weigh In

IRM has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Iron Mountain Company 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.