Woodstock Corp Sells 4,235 Shares of Iron Mountain Incorporated (NYSE:IRM)

Woodstock Corp lessened its position in Iron Mountain Incorporated (NYSE:IRM) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,546 shares of the financial services provider’s stock after selling 4,235 shares during the quarter. Woodstock Corp’s holdings in Iron Mountain were worth $8,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain in the 2nd quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain during the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new position in Iron Mountain during the first quarter valued at $38,000. Family Firm Inc. bought a new stake in Iron Mountain in the second quarter worth $45,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Iron Mountain in the fourth quarter worth $36,000. 80.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,003 shares of company stock worth $3,761,505 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

Shares of IRM opened at $120.34 on Monday. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $120.70. The business has a fifty day moving average of $113.74 and a 200 day moving average of $95.41. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $35.28 billion, a P/E ratio of 182.33, a PEG ratio of 7.22 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business posted $0.94 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.38%. The ex-dividend date was Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is currently 433.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IRM shares. Stifel Nicolaus upped their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays upped their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company increased their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $113.00.

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.