Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Abbot Financial Management Inc.

Abbot Financial Management Inc. decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,133 shares of the financial services provider’s stock after selling 117 shares during the quarter. Abbot Financial Management Inc.’s holdings in Iron Mountain were worth $998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of IRM. State Board of Administration of Florida Retirement System raised its stake in shares of Iron Mountain by 2.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock valued at $25,787,000 after purchasing an additional 7,486 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after acquiring an additional 110,551 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after purchasing an additional 12,540 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock valued at $65,787,000 after purchasing an additional 59,381 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its stake 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 buying an additional 1,519,237 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Tomovcsik sold 35,084 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the sale, the chief operating officer now directly owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,787 shares of company stock valued at $6,025,002. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 1.6 %

NYSE:IRM opened at $118.19 on Tuesday. The stock has a market cap of $34.65 billion, a price-to-earnings ratio of 179.08, a PEG ratio of 6.85 and a beta of 1.00. The business has a fifty day moving average of $106.61 and a 200-day moving average of $90.31. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $118.46. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last released 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 firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company earned $0.94 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm 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. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 annualized dividend and a yield of 2.42%. Iron Mountain’s payout ratio is 433.33%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their target price 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. Finally, JPMorgan Chase & Co. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $99.83.

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.