Edgestream Partners L.P. Raises Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Edgestream Partners L.P. boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 147.8% during the second quarter, HoldingsChannel.com reports. The firm owned 56,679 shares of the financial services provider’s stock after purchasing an additional 33,803 shares during the period. Edgestream Partners L.P.’s holdings in Iron Mountain were worth $5,080,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Cohen & Steers Inc. boosted its position in Iron Mountain by 202.1% during the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after purchasing an additional 15,035,937 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Iron Mountain by 11.6% in the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after acquiring an additional 475,849 shares in the last quarter. Norges Bank purchased a new position in shares of Iron Mountain in the fourth quarter valued at approximately $228,391,000. AGF Management Ltd. lifted its position in shares of Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after acquiring an additional 972,101 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Iron Mountain by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after acquiring an additional 6,562 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction on 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 owns 14,000 shares of the company’s stock, valued at $1,540,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Edward Baker-Greene sold 6,200 shares of Iron Mountain stock in a transaction on Thursday, June 20th. The stock was 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 $999,326.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction on 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 $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 quarter. 2.10% of the stock is owned by insiders.

Iron Mountain Price Performance

NYSE:IRM opened at $115.90 on Wednesday. The stock has a 50 day moving average price of $106.61 and a 200 day moving average price of $90.31. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $33.97 billion, a PE ratio of 175.61, a P/E/G ratio of 6.85 and a beta of 1.00. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $118.46.

Iron Mountain (NYSE:IRM) last posted its 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). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. Iron Mountain’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. Equities research analysts expect that Iron Mountain Incorporated will post 4.17 EPS 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. Shareholders of record on Monday, September 16th will be paid a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 annualized dividend and a yield of 2.47%. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. 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 report on Friday, August 2nd. Wells Fargo & Company increased their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus increased their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

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.