Nisa Investment Advisors LLC Cuts Holdings in Iron Mountain Incorporated (NYSE:IRM)

Nisa Investment Advisors LLC trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 128,343 shares of the financial services provider’s stock after selling 13,493 shares during the period. Nisa Investment Advisors LLC’s holdings in Iron Mountain were worth $15,351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of IRM. State of Alaska Department of Revenue raised its stake in shares of Iron Mountain by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 170,027 shares of the financial services provider’s stock worth $13,637,000 after buying an additional 637 shares in the last quarter. Norden Group LLC purchased a new position in shares of Iron Mountain during the 1st quarter worth approximately $657,000. First Trust Direct Indexing L.P. raised its stake in shares of Iron Mountain by 6.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 6,114 shares of the financial services provider’s stock worth $490,000 after buying an additional 356 shares in the last quarter. American Institute for Advanced Investment Management LLP raised its stake in shares of Iron Mountain by 6.9% during the 1st quarter. American Institute for Advanced Investment Management LLP now owns 11,605 shares of the financial services provider’s stock worth $931,000 after buying an additional 750 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Iron Mountain by 2.1% during the 1st quarter. Private Advisor Group LLC now owns 85,108 shares of the financial services provider’s stock worth $6,827,000 after buying an additional 1,778 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $127.60 on Wednesday. The business’s fifty day moving average price is $117.85 and its two-hundred day moving average price is $99.34. The stock has a market cap of $37.43 billion, a PE ratio of 163.59, a price-to-earnings-growth ratio of 7.42 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 one year low of $57.36 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results 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 company had revenue of $1.53 billion for 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%. Iron Mountain’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 EPS. On average, analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.24%. Iron Mountain’s dividend payout ratio (DPR) is 366.67%.

Analysts Set New Price Targets

IRM has been the topic of a number of research reports. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays upped their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Transactions 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 sale, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,503 shares of company stock worth $3,511,505 over the last quarter. 2.10% of the stock is currently owned by insiders.

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.