Iron Mountain Incorporated (NYSE:IRM) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 7,100 shares of the financial services provider’s stock after selling 164 shares during the period. SeaCrest Wealth Management LLC’s holdings in Iron Mountain were worth $636,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Csenge Advisory Group raised its holdings in shares of Iron Mountain by 1.2% in the 2nd quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after purchasing an additional 114 shares during the period. Perfromance Wealth Partners LLC boosted its position in Iron Mountain by 2.4% during the 2nd quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 118 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Iron Mountain by 9.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 120 shares during the period. Terra Nova Asset Management LLC boosted its position in Iron Mountain by 0.4% during the 2nd quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock valued at $2,905,000 after purchasing an additional 120 shares during the period. Finally, Jaffetilchin Investment Partners LLC boosted its position in Iron Mountain by 1.1% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 11,432 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 122 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of IRM stock traded up $0.71 during mid-day trading on Wednesday, reaching $110.23. The stock had a trading volume of 170,816 shares, compared to its average volume of 1,646,585. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $112.79. The firm has a market cap of $32.31 billion, a PE ratio of 165.91, a P/E/G ratio of 6.49 and a beta of 0.98. The company has a quick ratio of 0.86, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm’s 50 day simple moving average is $97.57 and its 200 day simple moving average is $84.58.

Iron Mountain (NYSE:IRM) last released 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 net margin of 3.94% and a return on equity of 595.44%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm earned $0.94 earnings per share. Iron Mountain’s quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts forecast that Iron Mountain Incorporated will post 4.22 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 paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is 433.33%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total value of $1,286,351.25. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $23,956,519.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.03, for a total value of $1,286,351.25. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $23,956,519.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,372 shares of company stock valued at $8,516,435. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.