IFM Investors Pty Ltd Has $15.21 Million Position in Iron Mountain Incorporated (NYSE:IRM)

IFM Investors Pty Ltd cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,021 shares of the financial services provider’s stock after selling 150 shares during the quarter. IFM Investors Pty Ltd’s holdings in Iron Mountain were worth $15,213,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Centersquare Investment Management LLC increased its stake in 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 purchasing an additional 1,519,237 shares in the last quarter. Legal & General Group Plc increased its position in shares of Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares in the last quarter. AGF Management Ltd. raised its stake in Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after buying an additional 972,101 shares during the period. Daiwa Securities Group Inc. lifted its holdings in 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 in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Iron Mountain by 12,953.4% in the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after acquiring an additional 445,207 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Iron Mountain

In related news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. The trade was 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 this hyperlink. In related news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares in the company, valued at approximately $1,540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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 $125.97 on Friday. Iron Mountain Incorporated has a 12 month low of $57.36 and a 12 month high of $127.05. The company’s fifty day simple moving average is $116.73 and its 200-day simple moving average is $97.98. The firm has a market cap of $36.93 billion, a PE ratio of 190.86, a P/E/G ratio of 7.22 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

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 analysts’ consensus estimates of $1.01 by ($0.59). The business 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 company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. Equities research analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

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