Iron Mountain Incorporated $IRM Shares Sold by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 25.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,162 shares of the financial services provider’s stock after selling 757 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Iron Mountain were worth $222,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IRM. Financial Network Wealth Advisors LLC acquired a new stake in Iron Mountain in the first quarter valued at $26,000. Golden State Wealth Management LLC acquired a new stake in Iron Mountain in the first quarter valued at $30,000. Ramirez Asset Management Inc. acquired a new stake in Iron Mountain in the first quarter valued at $34,000. Wayfinding Financial LLC acquired a new stake in Iron Mountain in the first quarter valued at $37,000. Finally, Richards Merrill & Peterson Inc. acquired a new stake in Iron Mountain in the first quarter valued at $43,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of IRM stock opened at $103.93 on Friday. The stock’s 50-day moving average is $98.68 and its two-hundred day moving average is $96.64. The firm has a market cap of $30.70 billion, a price-to-earnings ratio of 742.44 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 issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 earnings per share. As a group, research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were issued 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 3.0%. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. 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 over the last quarter. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.