Nia Impact Advisors LLC Cuts Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Nia Impact Advisors LLC decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,097 shares of the financial services provider’s stock after selling 4,386 shares during the quarter. Iron Mountain accounts for approximately 2.3% of Nia Impact Advisors LLC’s portfolio, making the stock its 14th largest position. Nia Impact Advisors LLC’s holdings in Iron Mountain were worth $6,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IRM. J.W. Cole Advisors Inc. boosted its stake in shares of Iron Mountain by 1.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 6,976 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 126 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Iron Mountain by 8.2% in the 2nd quarter. Parallel Advisors LLC now owns 3,217 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 243 shares in the last quarter. Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at $1,641,000. CoreCap Advisors LLC purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at $2,518,000. Finally, Federated Hermes Inc. boosted its stake in shares of Iron Mountain by 1.2% in the 2nd quarter. Federated Hermes Inc. now owns 50,547 shares of the financial services provider’s stock valued at $4,530,000 after purchasing an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.6 %

NYSE:IRM opened at $117.06 on Friday. The company has a fifty day moving average of $106.10 and a 200 day moving average of $89.93. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $117.83. 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 firm has a market capitalization of $34.31 billion, a P/E ratio of 177.36, a P/E/G ratio of 6.85 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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). 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 during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.44%. Iron Mountain’s dividend payout ratio is 433.33%.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company upped their price target 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. Finally, JPMorgan Chase & Co. upped their price target 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 given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $99.83.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward Baker-Greene sold 6,200 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.35, for a total transaction of $547,770.00. Following the completion of the transaction, the executive vice president now owns 11,311 shares of the company’s stock, valued at $999,326.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,882 shares of company stock worth $6,293,740. 2.10% of the stock is currently owned by corporate insiders.

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.