Diversified Trust Co Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Diversified Trust Co lessened its position in Iron Mountain Incorporated (NYSE:IRM) by 50.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,898 shares of the financial services provider’s stock after selling 4,957 shares during the quarter. Diversified Trust Co’s holdings in Iron Mountain were worth $439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in Iron Mountain during the fourth quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain during the second quarter worth approximately $36,000. Heritage Wealth Advisors purchased a new position in Iron Mountain during the fourth quarter worth approximately $38,000. Headlands Technologies LLC purchased a new position in Iron Mountain during the first quarter worth approximately $38,000. Finally, EdgeRock Capital LLC purchased a new position in Iron Mountain during the fourth quarter worth approximately $49,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.7 %

IRM opened at $108.69 on Thursday. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $112.79. The stock has a market capitalization of $31.86 billion, a price-to-earnings ratio of 164.68, a PEG ratio of 6.49 and a beta of 0.98. 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 business has a fifty day moving average price of $95.74 and a 200 day moving average price of $83.33.

Iron Mountain (NYSE:IRM) last announced 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 business 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 firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. Sell-side analysts expect that Iron Mountain Incorporated will post 4.22 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders 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 2.63%. The ex-dividend date is Monday, September 16th. Iron Mountain’s payout ratio is presently 433.33%.

Insider Activity

In other news, COO John Tomovcsik sold 2,866 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO John Tomovcsik sold 2,866 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,575,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 954 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total value of $77,588.82. Following the completion of the transaction, the director now owns 35,166 shares in the company, valued at approximately $2,860,050.78. The disclosure for this sale can be found here. In the last three months, insiders sold 96,372 shares of company stock valued at $8,516,435. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their target price on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised 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. Finally, Stifel Nicolaus raised 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.29.

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.