True Vision MN LLC Acquires New Holdings in Iron Mountain Incorporated (NYSE:IRM)

True Vision MN LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,061 shares of the financial services provider’s stock, valued at approximately $367,000.

Other institutional investors have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain in the 2nd quarter valued at approximately $32,000. Transcendent Capital Group LLC bought a new position in shares of Iron Mountain in the 4th quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain in the 2nd quarter worth approximately $36,000. Heritage Wealth Advisors bought a new position in Iron Mountain in the 4th quarter worth approximately $38,000. Finally, Headlands Technologies LLC bought a new position in Iron Mountain in the 1st quarter worth approximately $38,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $115.90 on Wednesday. Iron Mountain Incorporated has a 1-year low of $56.51 and a 1-year high of $118.46. The firm has a market capitalization of $33.97 billion, a PE ratio of 175.61, a PEG ratio of 6.85 and a beta of 1.00. The business’s 50 day moving average is $106.61 and its 200-day moving average is $90.31. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share 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 firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $0.94 EPS. Iron Mountain’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a $0.715 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 annualized dividend and a yield of 2.47%. Iron Mountain’s payout ratio is currently 433.33%.

Analyst Ratings Changes

Several brokerages have commented on IRM. 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. Stifel Nicolaus lifted their price target on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted 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. Finally, Wells Fargo & Company lifted their price target on Iron Mountain from $110.00 to $120.00 and gave the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Insider Activity at Iron Mountain

In related news, EVP Edward Baker-Greene sold 6,200 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $88.35, for a total value of $547,770.00. Following the sale, the executive vice president now owns 11,311 shares of the company’s stock, valued at approximately $999,326.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO John Tomovcsik sold 35,084 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $88.76, for a total value of $3,114,055.84. Following the sale, the chief operating officer now owns 20,366 shares of the company’s stock, valued at approximately $1,807,686.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Edward Baker-Greene sold 6,200 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $88.35, for a total value of $547,770.00. Following the completion of the transaction, the executive vice president now directly owns 11,311 shares in the company, valued at approximately $999,326.85. The disclosure for this sale can be found here. Insiders have sold a total of 65,787 shares of company stock valued at $6,025,002 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

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.