Hartford Investment Management Co. Has $2.21 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Hartford Investment Management Co. cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,635 shares of the financial services provider’s stock after selling 219 shares during the quarter. Hartford Investment Management Co.’s holdings in Iron Mountain were worth $2,214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Iron Mountain during the second quarter valued at approximately $32,000. West Branch Capital LLC bought a new position in Iron Mountain in the 3rd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Iron Mountain during the 2nd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in shares of Iron Mountain in the first quarter valued at approximately $38,000. Finally, Family Firm Inc. bought a new stake in Iron Mountain during the second quarter worth $45,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Trading Up 0.3 %

Shares of IRM opened at $125.97 on Friday. The business’s 50-day moving average price is $116.73 and its 200-day moving average price is $97.98. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a twelve month low of $57.36 and a twelve month high of $127.05. The stock has a market cap of $36.93 billion, a PE ratio of 190.86, a P/E/G ratio of 7.22 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results 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). 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 during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company posted $0.94 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is currently 433.33%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction 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 of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Tomovcsik sold 1,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,503 shares of company stock worth $3,511,505. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRM. Barclays boosted their price target 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. Stifel Nicolaus upped their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. 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, Iron Mountain has an average rating of “Moderate Buy” and a consensus 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.