24,425 Shares in Iron Mountain Incorporated (NYSE:IRM) Bought by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. bought a new position in Iron Mountain Incorporated (NYSE:IRM) during the 2nd quarter, Holdings Channel reports. The fund bought 24,425 shares of the financial services provider’s stock, valued at approximately $2,189,000.

Several other institutional investors have also recently bought and sold shares of IRM. Federated Hermes Inc. raised its holdings in Iron Mountain by 4.0% in the 4th quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock worth $322,000 after acquiring an additional 179 shares during the period. CWM LLC increased its holdings in shares of Iron Mountain by 15.3% during the 4th quarter. CWM LLC now owns 6,758 shares of the financial services provider’s stock worth $473,000 after purchasing an additional 896 shares during the period. PGGM Investments increased its holdings in shares of Iron Mountain by 9.9% during the 4th quarter. PGGM Investments now owns 15,894 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 1,438 shares during the period. Naviter Wealth LLC increased its holdings in shares of Iron Mountain by 19.0% during the 4th quarter. Naviter Wealth LLC now owns 18,346 shares of the financial services provider’s stock worth $1,295,000 after purchasing an additional 2,928 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its holdings in shares of Iron Mountain by 28.0% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 56,070 shares of the financial services provider’s stock worth $3,924,000 after purchasing an additional 12,280 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, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. The disclosure for this sale can be found here. Insiders have sold a total of 99,634 shares of company stock worth $8,874,690 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

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

Iron Mountain Price Performance

NYSE IRM traded up $1.28 on Friday, reaching $113.27. The company’s stock had a trading volume of 2,390,425 shares, compared to its average volume of 1,646,848. The firm has a market cap of $33.20 billion, a PE ratio of 171.62, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98. The business has a 50-day moving average price of $101.52 and a 200 day moving average price of $86.82. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $114.93. The company has a current ratio of 0.79, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63.

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). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. Sell-side analysts expect that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be given 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 2.52%. Iron Mountain’s payout ratio 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.