Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 21.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 548 shares of the financial services provider’s stock after selling 153 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Iron Mountain were worth $65,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its stake in Iron Mountain by 2.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after purchasing an additional 7,486 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of Iron Mountain during the third quarter valued at $824,000. Price T Rowe Associates Inc. MD increased its position in shares of Iron Mountain by 22.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after acquiring an additional 110,551 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after acquiring an additional 12,540 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its position in Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In related news, COO John Tomovcsik sold 2,866 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. This trade represents 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 this link. Also, COO John Tomovcsik sold 2,866 shares of Iron Mountain stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares in the company, valued at $1,575,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,503 shares of company stock worth $3,511,505 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

IRM opened at $125.54 on Thursday. The stock has a market cap of $36.80 billion, a P/E ratio of 190.21, a P/E/G ratio of 7.22 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a fifty day moving average price of $116.05 and a 200 day moving average price of $97.59. Iron Mountain Incorporated has a 1 year low of $57.36 and a 1 year high of $126.55.

Iron Mountain (NYSE:IRM) last posted its earnings results 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 firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company earned $0.94 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.28%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio is presently 433.33%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on IRM shares. Stifel Nicolaus increased their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays raised their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $115.50.

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.