Pine Valley Investments Ltd Liability Co Reduces Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Pine Valley Investments Ltd Liability Co cut its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,750 shares of the financial services provider’s stock after selling 100 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Iron Mountain were worth $246,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Moloney Securities Asset Management LLC purchased a new stake in Iron Mountain in the second quarter valued at $202,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Iron Mountain by 4.0% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 80,674 shares of the financial services provider’s stock valued at $7,230,000 after buying an additional 3,079 shares during the period. Lee Danner & Bass Inc. acquired a new position in Iron Mountain in the second quarter valued at about $2,189,000. KCM Investment Advisors LLC boosted its stake in Iron Mountain by 1.1% during the second quarter. KCM Investment Advisors LLC now owns 22,158 shares of the financial services provider’s stock worth $1,986,000 after buying an additional 248 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Iron Mountain by 4,109.2% in the 2nd quarter. UMB Bank n.a. now owns 40,913 shares of the financial services provider’s stock valued at $3,667,000 after acquiring an additional 39,941 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their target price on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company raised their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Greg W. Mcintosh sold 13,923 shares of the company’s stock in a transaction that occurred on 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 completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Greg W. Mcintosh sold 13,923 shares of the 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 transaction, the executive vice president now directly owns 18,107 shares of the company’s stock, valued at $1,582,732.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,634 shares of company stock worth $8,874,690. 2.10% of the stock is owned by company insiders.

Iron Mountain Stock Performance

NYSE IRM traded up $1.27 during trading hours on Friday, hitting $113.26. The company had a trading volume of 2,391,197 shares, compared to its average volume of 1,646,848. The business has a 50 day moving average of $101.52 and a 200-day moving average of $86.82. 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 Incorporated has a 1-year low of $56.51 and a 1-year high of $114.93. The company has a market cap of $33.20 billion, a PE ratio of 171.62, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results 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). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be given a dividend of $0.715 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

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.