Twelve Points Wealth Management LLC Reduces Stake in Iron Mountain Incorporated (NYSE:IRM)

Twelve Points Wealth Management LLC lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 92.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,152 shares of the financial services provider’s stock after selling 39,858 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Iron Mountain were worth $375,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. purchased a new position in Iron Mountain during the 3rd quarter worth approximately $535,000. Terra Nova Asset Management LLC grew its stake in Iron Mountain by 0.8% during the 3rd quarter. Terra Nova Asset Management LLC now owns 32,684 shares of the financial services provider’s stock worth $3,884,000 after buying an additional 275 shares during the last quarter. Tsfg LLC purchased a new position in Iron Mountain during the 3rd quarter worth approximately $134,000. Creative Planning grew its stake in Iron Mountain by 2.2% during the 3rd quarter. Creative Planning now owns 98,905 shares of the financial services provider’s stock worth $11,753,000 after buying an additional 2,083 shares during the last quarter. Finally, Wesbanco Bank Inc. purchased a new position in Iron Mountain during the 3rd quarter worth approximately $236,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 0.9 %

IRM opened at $124.51 on Friday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The business has a 50 day simple moving average of $115.09 and a 200-day simple moving average of $96.38. The stock has a market capitalization of $36.50 billion, a P/E ratio of 188.65, a P/E/G ratio of 7.22 and a beta of 1.00. Iron Mountain Incorporated has a 12 month low of $57.36 and a 12 month high of $124.79.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results 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 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were paid 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 yield of 2.30%. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Analyst Ratings Changes

A number of research firms have weighed in on IRM. 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 research 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 research report on Monday, September 23rd. 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 research report on Friday, August 2nd. Wells Fargo & Company increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Barclays increased their price objective on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Activity at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was 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 directly owns 9,049 shares of the company’s stock, valued at $993,127.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,503 shares of company stock valued at $3,511,505 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

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.