Iron Mountain Incorporated (NYSE:IRM) Shares Bought by UMB Bank n.a.

UMB Bank n.a. boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 4,109.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 40,913 shares of the financial services provider’s stock after acquiring an additional 39,941 shares during the period. UMB Bank n.a.’s holdings in Iron Mountain were worth $3,667,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Cohen & Steers Inc. raised its position in Iron Mountain by 202.1% during the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after acquiring an additional 15,035,937 shares during the period. Daiwa Securities Group Inc. raised its position 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 buying an additional 475,849 shares during the last quarter. Norges Bank acquired a new stake in shares of Iron Mountain in the fourth quarter valued at about $228,391,000. Charles Schwab Investment Management Inc. raised its position in shares of Iron Mountain by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock valued at $220,975,000 after buying an additional 81,741 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Iron Mountain by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after buying an additional 6,562 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In other Iron Mountain news, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the sale, the director now directly owns 35,166 shares in the company, valued at $2,860,050.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Iron Mountain news, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the sale, the director now directly owns 35,166 shares in the company, valued at $2,860,050.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John Tomovcsik sold 35,084 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.76, for a total value of $3,114,055.84. Following the completion of the sale, the chief operating officer now owns 20,366 shares in the company, valued at $1,807,686.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,634 shares of company stock worth $8,874,690. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Up 1.1 %

IRM stock traded up $1.28 during mid-day trading on Friday, hitting $113.27. 2,390,425 shares of the company were exchanged, compared to its average volume of 1,646,848. 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 has a market capitalization of $33.20 billion, a P/E ratio of 168.41, a PEG ratio of 6.49 and a beta of 0.98. The business has a fifty day simple moving average of $101.03 and a 200-day simple moving average of $86.52. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $114.93.

Iron Mountain (NYSE:IRM) last posted 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). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business posted $0.94 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.22 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is 433.33%.

Iron Mountain 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.