Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 903,856 shares of the financial services provider’s stock after selling 52,333 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Iron Mountain were worth $81,004,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IRM. Cohen & Steers Inc. increased its holdings in Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after acquiring an additional 15,035,937 shares in the last quarter. Norges Bank purchased a new stake in shares of Iron Mountain during the fourth quarter worth about $228,391,000. Centersquare Investment Management LLC raised its position in shares of Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after buying an additional 1,519,237 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Iron Mountain by 59.1% during the fourth quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock valued at $145,879,000 after buying an additional 772,988 shares during the period. Finally, Sei Investments Co. boosted its position in Iron Mountain by 278.3% during the fourth quarter. Sei Investments Co. now owns 875,092 shares of the financial services provider’s stock worth $61,239,000 after acquiring an additional 643,760 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO John Tomovcsik sold 2,866 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the transaction, the chief operating officer now owns 15,000 shares of the company’s stock, valued at $1,575,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The disclosure for this sale can be found here. Insiders have sold a total of 96,372 shares of company stock worth $8,516,435 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Trading Down 0.3 %

Shares of NYSE:IRM traded down $0.28 during trading on Friday, reaching $108.30. 1,996,318 shares of the stock were exchanged, compared to its average volume of 1,661,263. The firm’s 50-day moving average price is $96.67 and its 200 day moving average price is $83.89. The firm has a market cap of $31.75 billion, a price-to-earnings ratio of 164.09, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $112.79. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) 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 business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Iron Mountain’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.22 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be given a $0.715 dividend. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.64%. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Analyst Ratings Changes

A number of brokerages have weighed in on IRM. The Goldman Sachs Group increased their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price target on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus raised their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $95.29.

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.