Rhumbline Advisers Buys 34,773 Shares of Iron Mountain Incorporated (NYSE:IRM)

Rhumbline Advisers increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 5.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 672,308 shares of the financial services provider’s stock after acquiring an additional 34,773 shares during the period. Rhumbline Advisers’ holdings in Iron Mountain were worth $60,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain in the 2nd quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter valued at $36,000. Headlands Technologies LLC purchased a new stake in shares of Iron Mountain in the 1st quarter worth about $38,000. Family Firm Inc. bought a new position in shares of Iron Mountain in the 2nd quarter worth about $45,000. Finally, Transcendent Capital Group LLC bought a new stake in Iron Mountain during the fourth quarter worth about $36,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRM has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus increased their target price on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group lifted their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Iron Mountain Trading Up 0.0 %

Iron Mountain stock opened at $112.87 on Thursday. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $114.93. The business’s fifty day moving average is $102.97 and its 200 day moving average is $87.90. The stock has a market capitalization of $33.11 billion, a PE ratio of 171.02, a price-to-earnings-growth ratio of 6.78 and a beta of 0.98. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.53%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio is presently 393.95%.

Insider Transactions at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. The disclosure for this sale can be found here. Insiders have sold a total of 82,805 shares of company stock worth $7,510,750 in the last ninety days. Insiders own 2.10% of the company’s stock.

About Iron Mountain

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.