Iron Mountain Incorporated (NYSE:IRM) Stock Holdings Cut by UMB Bank n.a.

UMB Bank n.a. reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,540 shares of the financial services provider’s stock after selling 373 shares during the quarter. UMB Bank n.a.’s holdings in Iron Mountain were worth $4,817,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of IRM. Centersquare Investment Management LLC lifted its position in shares of Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after purchasing an additional 1,286,694 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Iron Mountain by 11.6% in the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after purchasing an additional 475,849 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its holdings in shares of Iron Mountain by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after purchasing an additional 402,625 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IRM. Wells Fargo & Company increased 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. The Goldman Sachs Group increased their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus increased their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Barclays increased their price objective on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $113.00.

Iron Mountain Trading Down 1.2 %

Iron Mountain stock opened at $119.02 on Friday. The company has a market capitalization of $34.91 billion, a price-to-earnings ratio of 152.59, a PEG ratio of 7.22 and a beta of 1.00. The company’s fifty day moving average price is $113.47 and its two-hundred day moving average price is $94.89. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $120.70. 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 issued its quarterly earnings results 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). 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 company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 earnings per share. On average, analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a yield of 2.40%. Iron Mountain’s dividend payout ratio (DPR) is 366.67%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,003 shares of company stock valued at $3,761,505 over the last three months. 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.