Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 17.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,645 shares of the financial services provider’s stock after selling 2,189 shares during the period. Contravisory Investment Management Inc.’s holdings in Iron Mountain were worth $1,265,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Csenge Advisory Group increased its holdings in Iron Mountain by 1.2% in the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock valued at $853,000 after buying an additional 114 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Iron Mountain by 2.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock valued at $380,000 after buying an additional 117 shares during the last quarter. Perfromance Wealth Partners LLC increased its holdings in Iron Mountain by 2.4% in the second quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock valued at $449,000 after buying an additional 118 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Iron Mountain by 9.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock valued at $121,000 after buying an additional 120 shares during the last quarter. Finally, Terra Nova Asset Management LLC increased its holdings in Iron Mountain by 0.4% in the second quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock valued at $2,905,000 after buying an additional 120 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In related news, COO John Tomovcsik sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the sale, the chief operating officer now owns 17,866 shares in the company, valued at $1,786,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Tomovcsik sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the chief operating officer now owns 17,866 shares of the company’s stock, valued at approximately $1,786,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,003 shares of company stock worth $3,761,505. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $119.02 on Friday. Iron Mountain Incorporated has a fifty-two week low of $57.36 and a fifty-two week high of $120.70. The company has a market capitalization of $34.91 billion, a price-to-earnings ratio of 152.59, a price-to-earnings-growth ratio of 7.22 and a beta of 1.00. The firm has a 50-day simple moving average of $113.47 and a 200-day simple moving average of $94.89. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share 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 business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company posted $0.94 EPS. Iron Mountain’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were paid a dividend of $0.715 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.40%. Iron Mountain’s dividend payout ratio is 366.67%.

Wall Street Analysts Forecast Growth

IRM has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays increased their target price on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their price objective on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.00.

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.