Stock Yards Bank & Trust Co. Sells 1,239 Shares of Iron Mountain Incorporated (NYSE:IRM)

Stock Yards Bank & Trust Co. lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 29,617 shares of the financial services provider’s stock after selling 1,239 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Iron Mountain were worth $2,654,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in shares of Iron Mountain during the 1st quarter worth approximately $38,000. Family Firm Inc. bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $45,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Iron Mountain during the 4th quarter worth approximately $36,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 1.9 %

IRM stock opened at $115.90 on Wednesday. The firm’s fifty day simple moving average is $106.61 and its 200-day simple moving average is $90.31. The company has a market capitalization of $33.97 billion, a P/E ratio of 175.61, a price-to-earnings-growth ratio of 6.85 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 Incorporated has a 12 month low of $56.51 and a 12 month high of $118.46.

Iron Mountain (NYSE:IRM) last released 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). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a $0.715 dividend. 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 2.47%. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio is 433.33%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research 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 stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Insider Activity at Iron Mountain

In related news, COO John Tomovcsik sold 1,000 shares of the business’s 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 transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO John Tomovcsik sold 1,000 shares of the business’s 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 transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Edward Baker-Greene sold 6,200 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were 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. Insiders sold a total of 65,787 shares of company stock worth $6,025,002 in the last three months. Company insiders own 2.10% of the company’s stock.

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.