Iron Mountain Incorporated (NYSE:IRM) is Terra Nova Asset Management LLC’s 5th Largest Position

Terra Nova Asset Management LLC lifted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,684 shares of the financial services provider’s stock after purchasing an additional 275 shares during the quarter. Iron Mountain accounts for approximately 2.9% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 5th largest position. Terra Nova Asset Management LLC’s holdings in Iron Mountain were worth $3,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRM. Goldman Sachs Group Inc. boosted its stake in Iron Mountain by 6.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after buying an additional 59,381 shares during the period. Fisher Asset Management LLC purchased a new position in Iron Mountain during the fourth quarter worth $271,000. PNC Financial Services Group Inc. boosted its stake in Iron Mountain by 1.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 48,996 shares of the financial services provider’s stock worth $3,429,000 after buying an additional 748 shares during the period. HighPoint Advisor Group LLC purchased a new position in Iron Mountain during the fourth quarter worth $1,280,000. Finally, Nomura Holdings Inc. purchased a new position in Iron Mountain during the fourth quarter worth $3,626,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on IRM. The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays boosted their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

Iron Mountain Stock Up 0.8 %

Shares of IRM stock traded up $0.97 on Wednesday, hitting $122.97. The stock had a trading volume of 75,470 shares, compared to its average volume of 1,600,544. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The business has a 50 day moving average price of $114.39 and a 200 day moving average price of $96.00. The company has a market cap of $36.05 billion, a PE ratio of 184.85, a P/E/G ratio of 7.22 and a beta of 1.00. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $123.59.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). The firm 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 quarter in the previous year, the firm earned $0.94 earnings per share. Research analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a $0.715 dividend. 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 2.33%. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s payout ratio is presently 433.33%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Iron Mountain news, 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 value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,503 shares of company stock worth $3,511,505 over the last three months. 2.10% of the stock is owned by corporate insiders.

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.