TCV Trust & Wealth Management Inc. Sells 12,603 Shares of Iron Mountain Incorporated (NYSE:IRM)

TCV Trust & Wealth Management Inc. reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 152,509 shares of the financial services provider’s stock after selling 12,603 shares during the period. Iron Mountain accounts for about 1.6% of TCV Trust & Wealth Management Inc.’s investment portfolio, making the stock its 16th largest holding. TCV Trust & Wealth Management Inc.’s holdings in Iron Mountain were worth $18,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IRM. Centersquare Investment Management LLC grew its holdings in 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 worth $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. Legal & General Group Plc increased 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. raised its position in Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after buying an additional 475,849 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after buying an additional 445,207 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the sale, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Edward Baker-Greene sold 2,262 shares of the 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 transaction, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,503 shares of company stock worth $3,511,505 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $127.70 on Friday. The stock has a 50-day moving average of $117.12 and a 200-day moving average of $98.45. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $130.24. The stock has a market cap of $37.46 billion, a PE ratio of 163.72, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00. 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 announced 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 firm 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%. Iron Mountain’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $0.94 EPS. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were given a dividend of $0.715 per share. The ex-dividend date was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.24%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 366.67%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IRM shares. Barclays boosted their target price on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.50.

About Iron Mountain

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.