Heartland Bank & Trust Co Sells 275 Shares of Iron Mountain Incorporated (NYSE:IRM)

Heartland Bank & Trust Co cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,406 shares of the financial services provider’s stock after selling 275 shares during the period. Heartland Bank & Trust Co’s holdings in Iron Mountain were worth $999,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IRM. State Board of Administration of Florida Retirement System grew its holdings 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 purchasing an additional 7,486 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at $824,000. Price T Rowe Associates Inc. MD grew its position in Iron Mountain by 22.9% in 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 acquiring an additional 110,551 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after acquiring an additional 12,540 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its position in Iron Mountain by 7,892.6% during the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after purchasing an additional 1,519,237 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $125.54 on Thursday. The company’s 50-day moving average is $116.38 and its 200 day moving average is $97.78. 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 stock has a market capitalization of $36.80 billion, a P/E ratio of 190.21, a P/E/G ratio of 7.22 and a beta of 1.00. Iron Mountain Incorporated has a 1 year low of $57.36 and a 1 year high of $126.55.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results 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). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 earnings per share. On average, sell-side analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.28%. 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 dividend payout ratio (DPR) is 433.33%.

Analysts Set New Price Targets

IRM has been the subject of several research reports. The Goldman Sachs Group upped their target price on 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 target 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 lifted their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company raised their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Barclays increased their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,503 shares of company stock worth $3,511,505. 2.10% of the stock is owned by insiders.

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.