Iron Mountain Incorporated (NYSE:IRM) Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,126,237 shares of the financial services provider’s stock after acquiring an additional 6,562 shares during the period. Bank of New York Mellon Corp owned 0.73% of Iron Mountain worth $190,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. lifted its position in shares of Iron Mountain by 4.0% in the 4th quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 179 shares in the last quarter. CWM LLC lifted its holdings in shares of Iron Mountain by 15.3% during the 4th quarter. CWM LLC now owns 6,758 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 896 shares during the period. GAMMA Investing LLC bought a new position in shares of Iron Mountain during the 4th quarter worth about $105,000. Consolidated Planning Corp acquired a new stake in shares of Iron Mountain during the 4th quarter worth about $280,000. Finally, PGGM Investments increased its position in shares of Iron Mountain by 9.9% during the 4th quarter. PGGM Investments now owns 15,894 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 1,438 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 13,923 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $87.41, for a total value of $1,217,009.43. Following the completion of the sale, the executive vice president now owns 18,107 shares of the company’s stock, valued at $1,582,732.87. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg W. Mcintosh sold 13,923 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the sale, the executive vice president now directly owns 18,107 shares of the company’s stock, valued at approximately $1,582,732.87. The disclosure for this sale can be found here. Insiders have sold a total of 99,634 shares of company stock worth $8,874,690 over the last ninety days. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 0.0 %

IRM traded up $0.05 during trading on Monday, reaching $113.40. The company had a trading volume of 1,311,321 shares, compared to its average volume of 1,650,072. The business’s fifty day moving average price is $99.07 and its 200 day moving average price is $85.51. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.86. The company has a market cap of $33.24 billion, a P/E ratio of 171.67, a PEG ratio of 6.49 and a beta of 0.98. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $114.79.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. Equities analysts anticipate that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders 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 2.52%. The ex-dividend date is Monday, September 16th. Iron Mountain’s payout ratio is currently 433.33%.

Wall Street Analyst Weigh In

Several research firms have weighed in on IRM. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted 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. Finally, The Goldman Sachs Group lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $99.83.

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.