MADDEN SECURITIES Corp Has $661,000 Holdings in Iron Mountain Incorporated (NYSE:IRM)

MADDEN SECURITIES Corp lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,375 shares of the financial services provider’s stock after selling 575 shares during the period. MADDEN SECURITIES Corp’s holdings in Iron Mountain were worth $661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Iron Mountain by 201.7% in the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 242 shares during the period. Transcendent Capital Group LLC bought a new stake in Iron Mountain in the fourth quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain during the second quarter valued at about $36,000. Heritage Wealth Advisors acquired a new position in shares of Iron Mountain during the fourth quarter valued at about $38,000. Finally, Headlands Technologies LLC purchased a new position in Iron Mountain during the first quarter worth about $38,000. Institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, COO John Tomovcsik sold 2,866 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction of $300,930.00. Following the completion of the sale, 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 can be accessed through this link. In related news, EVP Greg W. Mcintosh sold 13,923 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $87.41, for a total value 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 $1,582,732.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $300,930.00. Following the transaction, the chief operating officer now owns 15,000 shares in the company, valued at $1,575,000. The disclosure for this sale can be found here. Insiders have sold 96,372 shares of company stock valued at $8,516,435 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

IRM has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $95.29.

Iron Mountain Trading Up 1.7 %

Shares of IRM traded up $1.81 during mid-day trading on Thursday, reaching $107.37. 1,363,630 shares of the company’s stock traded hands, compared to its average volume of 1,672,687. 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 stock has a market cap of $31.47 billion, a P/E ratio of 162.68, a P/E/G ratio of 6.49 and a beta of 0.98. The stock’s 50-day moving average is $93.57 and its two-hundred day moving average is $82.08. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $112.79.

Iron Mountain (NYSE:IRM) last posted its 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). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Research analysts forecast that Iron Mountain Incorporated will post 4.22 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a yield of 2.66%. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

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.