Fifth Third Wealth Advisors LLC Trims Holdings in Iron Mountain Incorporated $IRM

Fifth Third Wealth Advisors LLC decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,832 shares of the financial services provider’s stock after selling 182 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Iron Mountain were worth $290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Iron Mountain by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider’s stock valued at $4,028,886,000 after purchasing an additional 220,564 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Iron Mountain by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock valued at $366,210,000 after purchasing an additional 37,154 shares during the last quarter. Invesco Ltd. raised its position in Iron Mountain by 14.7% in the 1st quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock valued at $245,124,000 after purchasing an additional 366,134 shares during the last quarter. Nuveen LLC purchased a new stake in Iron Mountain in the 1st quarter valued at $192,231,000. Finally, JPMorgan Chase & Co. raised its position in Iron Mountain by 17.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider’s stock valued at $177,377,000 after purchasing an additional 311,494 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Jefferies Financial Group started coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective for the company. Barclays upped their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $116.83.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold a total of 213,375 shares of company stock valued at $20,347,156 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Stock Up 0.5%

NYSE:IRM opened at $102.31 on Tuesday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock has a market cap of $30.22 billion, a PE ratio of 730.84 and a beta of 1.06. The firm’s fifty day simple moving average is $96.64 and its 200-day simple moving average is $95.63.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were paid a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.1%. Iron Mountain’s dividend payout ratio is 2,242.86%.

Iron Mountain Company 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.