Fiduciary Family Office LLC Lowers Holdings in Iron Mountain Incorporated (NYSE:IRM)

Fiduciary Family Office LLC reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,335 shares of the financial services provider’s stock after selling 547 shares during the quarter. Fiduciary Family Office LLC’s holdings in Iron Mountain were worth $747,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. First Trust Direct Indexing L.P. purchased a new stake in Iron Mountain during the 4th quarter worth approximately $403,000. Fisher Asset Management LLC acquired a new position in Iron Mountain during the fourth quarter valued at $313,000. Natixis Advisors L.P. raised its stake in shares of Iron Mountain by 3.3% during the 4th quarter. Natixis Advisors L.P. now owns 163,295 shares of the financial services provider’s stock valued at $11,427,000 after buying an additional 5,219 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Iron Mountain by 37.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 26,023 shares of the financial services provider’s stock valued at $1,821,000 after buying an additional 7,144 shares during the period. Finally, National Bank of Canada FI grew its holdings in Iron Mountain by 7.5% during the fourth quarter. National Bank of Canada FI now owns 84,160 shares of the financial services provider’s stock worth $5,776,000 after acquiring an additional 5,886 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on IRM. The Goldman Sachs Group lifted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus increased their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company boosted their price objective on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

Insider Buying and Selling

In other news, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the transaction, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now owns 14,000 shares of the company’s stock, valued at approximately $1,540,000. The disclosure for this sale can be found here. Insiders have sold 83,759 shares of company stock worth $7,588,339 in the last quarter. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Down 0.1 %

NYSE IRM traded down $0.08 during trading hours on Tuesday, hitting $113.18. 15,986 shares of the company were exchanged, compared to its average volume of 1,637,202. The company has a 50 day moving average of $102.00 and a two-hundred day moving average of $87.41. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm has a market cap of $33.20 billion, a price-to-earnings ratio of 171.61, a PEG ratio of 6.78 and a beta of 0.98. Iron Mountain Incorporated has a 52-week low of $56.51 and a 52-week high of $114.93.

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

Iron Mountain Increases Dividend

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

Iron Mountain Company 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.