Iron Mountain Incorporated (NYSE:IRM) Stock Position Raised by HHM Wealth Advisors LLC

HHM Wealth Advisors LLC boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 586.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,263 shares of the financial services provider’s stock after acquiring an additional 1,079 shares during the period. HHM Wealth Advisors LLC’s holdings in Iron Mountain were worth $113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cohen & Steers Inc. increased its position in Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after buying an additional 15,035,937 shares during the period. Norges Bank acquired a new stake in shares of Iron Mountain in the 4th quarter worth about $228,391,000. Centersquare Investment Management LLC lifted its position in Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after purchasing an additional 1,519,237 shares during the last quarter. AGF Management Ltd. boosted its stake in Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares during the period. Finally, Sei Investments Co. grew its position in Iron Mountain by 278.3% in the 4th quarter. Sei Investments Co. now owns 875,092 shares of the financial services provider’s stock worth $61,239,000 after purchasing an additional 643,760 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IRM. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus boosted their price target on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Insider Transactions at Iron Mountain

In related news, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The disclosure for this sale can be found here. Insiders have sold 68,882 shares of company stock valued at $6,293,740 over the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 0.2 %

Shares of IRM stock opened at $114.38 on Thursday. The stock has a 50-day simple moving average of $105.10 and a 200 day simple moving average of $89.34. The stock has a market capitalization of $33.53 billion, a P/E ratio of 173.30, a P/E/G ratio of 6.56 and a beta of 1.00. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $114.93. 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 announced 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 return on equity of 595.44% and a net margin of 3.94%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, sell-side analysts expect 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 dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.50%. 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.