Saxony Capital Management LLC Trims Stake in Iron Mountain Incorporated (NYSE:IRM)

Saxony Capital Management LLC trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 20.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,054 shares of the financial services provider’s stock after selling 522 shares during the period. Saxony Capital Management LLC’s holdings in Iron Mountain were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain in the 2nd quarter valued at approximately $32,000. West Branch Capital LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain in the 2nd quarter valued at $36,000. Headlands Technologies LLC acquired a new stake in Iron Mountain during the 1st quarter worth $38,000. Finally, Family Firm Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter worth $45,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Up 0.4 %

IRM opened at $123.87 on Wednesday. The firm’s 50-day simple moving average is $115.73 and its 200-day simple moving average is $97.27. The firm has a market cap of $36.31 billion, a price-to-earnings ratio of 187.68, a PEG ratio of 7.22 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. Iron Mountain Incorporated has a twelve month low of $57.36 and a twelve month high of $125.81.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Analyst Ratings Changes

Several analysts recently issued reports on IRM shares. The Goldman Sachs Group boosted their price objective 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. Stifel Nicolaus raised their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Barclays raised their target price on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted 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 lifted their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.50.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,503 shares of company stock worth $3,511,505 over the last 90 days. Insiders own 2.10% of the company’s stock.

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.