Global Retirement Partners LLC Sells 317 Shares of Iron Mountain Incorporated (NYSE:IRM)

Global Retirement Partners LLC lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,852 shares of the financial services provider’s stock after selling 317 shares during the period. Global Retirement Partners LLC’s holdings in Iron Mountain were worth $1,052,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its holdings in shares of Iron Mountain by 11.6% during the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after acquiring an additional 475,849 shares during the period. Legal & General Group Plc boosted its holdings in shares of Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after acquiring an additional 1,286,694 shares during the period. AGF Management Ltd. boosted its holdings in shares of Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after acquiring an additional 972,101 shares during the period. Bank of New York Mellon Corp boosted its stake 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 period. Finally, Centersquare Investment Management LLC boosted its stake in shares of Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after buying an additional 1,519,237 shares during the period. Institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Iron Mountain

In other news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Edward Baker-Greene sold 2,262 shares of the 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 completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Tomovcsik sold 2,866 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now owns 15,000 shares of the company’s stock, valued at $1,575,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,503 shares of company stock worth $3,511,505. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 1.0 %

Shares of IRM opened at $125.76 on Friday. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $125.81. The company has a market cap of $36.86 billion, a P/E ratio of 190.55, a P/E/G ratio of 7.22 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. The firm has a 50 day simple moving average of $115.43 and a two-hundred day simple moving average of $96.83.

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 company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. Research analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.715 per share. The ex-dividend date was Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.27%. Iron Mountain’s dividend payout ratio is 433.33%.

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.