Denali Advisors LLC Sells 170 Shares of Iron Mountain Incorporated $IRM

Denali Advisors LLC trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,416 shares of the financial services provider’s stock after selling 170 shares during the period. Denali Advisors LLC’s holdings in Iron Mountain were worth $1,479,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC bought a new position in Iron Mountain in the 1st quarter valued at $26,000. Golden State Wealth Management LLC bought a new position in shares of Iron Mountain in the 1st quarter worth $30,000. Ramirez Asset Management Inc. bought a new position in shares of Iron Mountain in the 1st quarter worth $34,000. Wayfinding Financial LLC bought a new position in shares of Iron Mountain in the 1st quarter worth $37,000. Finally, Richards Merrill & Peterson Inc. bought a new position in shares of Iron Mountain in the 1st quarter worth $43,000. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold 213,375 shares of company stock valued at $20,347,156 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IRM shares. Jefferies Financial Group started coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target on the stock. Barclays raised their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $116.83.

Iron Mountain Trading Down 0.5%

IRM stock opened at $103.90 on Thursday. The business’s 50-day moving average price is $98.43 and its two-hundred day moving average price is $96.46. The firm has a market cap of $30.69 billion, a PE ratio of 742.18 and a beta of 1.06. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24.

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

Iron Mountain Dividend Announcement

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