AGF Management Ltd. Buys 972,101 Shares of Iron Mountain Incorporated (NYSE:IRM)

AGF Management Ltd. lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 76.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,245,393 shares of the financial services provider’s stock after purchasing an additional 972,101 shares during the period. Iron Mountain accounts for about 1.1% of AGF Management Ltd.’s portfolio, making the stock its 17th biggest position. AGF Management Ltd. owned 0.77% of Iron Mountain worth $201,232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Iron Mountain during the 2nd quarter valued at about $32,000. Transcendent Capital Group LLC bought a new stake in shares of Iron Mountain during the 4th quarter valued at about $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter valued at about $36,000. Heritage Wealth Advisors bought a new stake in shares of Iron Mountain during the 4th quarter valued at about $38,000. Finally, Headlands Technologies LLC bought a new stake in shares of Iron Mountain during the 1st quarter valued at about $38,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $114.15 on Wednesday. The company has a market cap of $33.46 billion, a PE ratio of 172.95, a price-to-earnings-growth ratio of 6.56 and a beta of 1.00. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $114.93. The business has a 50 day moving average price of $104.65 and a 200-day moving average price of $89.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). The company had revenue of $1.53 billion during 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 business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. Equities analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, September 16th. 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 2.51%. Iron Mountain’s dividend payout ratio is 433.33%.

Wall Street Analyst Weigh In

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

Insider Transactions at Iron Mountain

In related news, COO John Tomovcsik sold 1,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO John Tomovcsik sold 1,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg W. Mcintosh sold 13,923 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 18,107 shares of the company’s stock, valued at $1,582,732.87. The disclosure for this sale can be found here. Insiders sold a total of 82,805 shares of company stock valued at $7,510,750 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Iron Mountain Company 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.