Perpetual Ltd Decreases Holdings in Iron Mountain Incorporated (NYSE:IRM)

Perpetual Ltd trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 51.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,290 shares of the financial services provider’s stock after selling 6,690 shares during the quarter. Perpetual Ltd’s holdings in Iron Mountain were worth $747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its position in Iron Mountain by 2.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after acquiring an additional 7,486 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Iron Mountain by 22.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after acquiring an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Iron Mountain by 19.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after acquiring an additional 12,540 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after acquiring an additional 59,381 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its position in Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,003 shares of company stock worth $3,761,505. 2.10% of the stock is owned by insiders.

Iron Mountain Trading Up 1.1 %

NYSE IRM opened at $120.34 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a twelve month low of $57.36 and a twelve month high of $120.70. The firm has a market capitalization of $35.30 billion, a PE ratio of 154.28, a P/E/G ratio of 7.22 and a beta of 1.00. The stock’s 50 day moving average is $113.74 and its 200 day moving average is $95.19.

Iron Mountain (NYSE:IRM) last released its quarterly 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 net margin of 3.94% and a return on equity of 595.44%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a dividend of $0.715 per share. The ex-dividend date was 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 dividend yield of 2.38%. Iron Mountain’s payout ratio is currently 366.67%.

Analysts Set New Price Targets

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

About Iron Mountain

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.