Cambridge Investment Research Advisors Inc. Sells 3,074 Shares of Iron Mountain Incorporated (NYSE:IRM)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 151,334 shares of the financial services provider’s stock after selling 3,074 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Iron Mountain were worth $13,563,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its position in Iron Mountain by 2.4% during the 1st 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 acquiring an additional 7,486 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after buying an additional 110,551 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Iron Mountain by 6.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after purchasing an additional 59,381 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Iron Mountain by 6.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock worth $30,637,000 after acquiring an additional 27,551 shares during the period. Finally, Centersquare Investment Management LLC grew its holdings in shares of Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the period. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $23,956,519.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $23,956,519.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Greg W. Mcintosh sold 13,923 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the sale, the executive vice president now directly owns 18,107 shares of the company’s stock, valued at approximately $1,582,732.87. The disclosure for this sale can be found here. Insiders have sold 99,634 shares of company stock worth $8,874,690 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on IRM. Wells Fargo & Company boosted their target price on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Iron Mountain Stock Up 1.3 %

Shares of NYSE IRM traded up $1.44 during mid-day trading on Tuesday, reaching $114.84. 1,173,777 shares of the company traded hands, compared to its average volume of 1,647,185. The stock has a market cap of $33.66 billion, a PE ratio of 171.86, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98. The company’s fifty day moving average is $99.57 and its two-hundred day moving average is $85.83. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.79. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $114.93.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, analysts expect that Iron Mountain Incorporated will post 4.22 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed 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. This represents a $2.86 dividend on an annualized basis and a yield of 2.49%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

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.