Border to Coast Pensions Partnership Ltd Sells 90,000 Shares of Iron Mountain Incorporated (NYSE:IRM)

Border to Coast Pensions Partnership Ltd lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 15.9% in the third quarter, HoldingsChannel.com reports. The firm owned 475,000 shares of the financial services provider’s stock after selling 90,000 shares during the period. Iron Mountain comprises 1.1% of Border to Coast Pensions Partnership Ltd’s holdings, making the stock its 23rd largest position. Border to Coast Pensions Partnership Ltd’s holdings in Iron Mountain were worth $56,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain in the 2nd quarter worth about $32,000. West Branch Capital LLC purchased a new stake in Iron Mountain during the third quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iron Mountain during the second quarter valued at about $36,000. Headlands Technologies LLC purchased a new stake in Iron Mountain during the first quarter valued at about $38,000. Finally, Family Firm Inc. purchased a new stake in Iron Mountain during the second quarter valued at about $45,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other 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 transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Tomovcsik sold 2,866 shares of the business’s stock in a transaction that occurred on 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 directly owns 15,000 shares in the company, valued at approximately $1,575,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,503 shares of company stock worth $3,511,505. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on IRM. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Barclays upped their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $115.50.

Iron Mountain Trading Down 1.2 %

IRM stock traded down $1.49 on Monday, reaching $124.27. The company’s stock had a trading volume of 465,867 shares, compared to its average volume of 1,594,855. The business has a fifty day simple moving average of $115.43 and a two-hundred day simple moving average of $96.83. Iron Mountain Incorporated has a 12-month low of $57.36 and a 12-month high of $125.81. The firm has a market cap of $36.43 billion, a PE ratio of 187.74, a PEG ratio of 7.22 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 EPS. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.30%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

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.