Iron Mountain Incorporated $IRM Shares Sold by Gables Capital Management Inc.

Gables Capital Management Inc. cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 12.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,542 shares of the financial services provider’s stock after selling 3,200 shares during the period. Iron Mountain makes up approximately 1.0% of Gables Capital Management Inc.’s holdings, making the stock its 28th largest holding. Gables Capital Management Inc.’s holdings in Iron Mountain were worth $2,210,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its holdings in Iron Mountain by 14.7% in the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 1,860 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Iron Mountain by 86.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after buying an additional 913,715 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Iron Mountain in the first quarter valued at about $30,000. Steward Partners Investment Advisory LLC increased its holdings in Iron Mountain by 1.4% in the first quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 513 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Iron Mountain in the second quarter valued at about $10,093,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IRM shares. Barclays increased their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective for the company. Finally, Zacks Research cut shares of Iron Mountain from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $116.83.

Iron Mountain Price Performance

Shares of IRM opened at $104.49 on Wednesday. The firm has a 50 day simple moving average of $98.24 and a 200-day simple moving average of $96.41. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock has a market cap of $30.86 billion, a price-to-earnings ratio of 746.42 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $1.08 EPS. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were paid a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s payout ratio is presently 2,242.86%.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president directly owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale can be found here. In the last three months, insiders sold 213,375 shares of company stock valued at $20,347,156. Company insiders own 1.90% of the company’s stock.

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.