SeaCrest Wealth Management LLC Has $636,000 Holdings in Iron Mountain Incorporated (NYSE:IRM)

SeaCrest Wealth Management LLC trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,100 shares of the financial services provider’s stock after selling 164 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Iron Mountain were worth $636,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its stake in shares of Iron Mountain by 2.4% during the first 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 buying an additional 7,486 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after buying an additional 110,551 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Iron Mountain by 6.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after buying an additional 59,381 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Iron Mountain by 42.3% during the fourth quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock worth $11,343,000 after buying an additional 48,170 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Iron Mountain by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock worth $30,637,000 after buying an additional 27,551 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Up 0.6 %

Shares of NYSE IRM traded up $0.71 during trading on Wednesday, hitting $110.23. 170,816 shares of the company traded hands, compared to its average volume of 1,646,585. The business’s fifty day moving average is $97.57 and its 200 day moving average is $84.58. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $112.79. The firm has a market capitalization of $32.31 billion, a price-to-earnings ratio of 165.91, a P/E/G ratio of 6.49 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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 company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $0.94 EPS. Iron Mountain’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts predict that Iron Mountain Incorporated will post 4.22 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, September 16th. 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 2.59%. Iron Mountain’s dividend payout ratio is 433.33%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. 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 note on Friday, August 2nd. 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. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $95.29.

Insider Activity

In other Iron Mountain news, COO John Tomovcsik sold 2,866 shares of Iron Mountain stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction of $300,930.00. Following the transaction, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Iron Mountain news, COO John Tomovcsik sold 2,866 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the transaction, the chief operating officer now owns 15,000 shares of the company’s stock, valued at $1,575,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total value of $1,286,351.25. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The disclosure for this sale can be found here. Insiders have sold 96,372 shares of company stock worth $8,516,435 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

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.