Iron Mountain Incorporated (NYSE:IRM) Stock Holdings Lowered by Moors & Cabot Inc.

Moors & Cabot Inc. cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,068 shares of the financial services provider’s stock after selling 489 shares during the period. Moors & Cabot Inc.’s holdings in Iron Mountain were worth $6,190,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Iron Mountain during the 2nd quarter worth $32,000. Transcendent Capital Group LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain during the 2nd quarter worth about $36,000. Heritage Wealth Advisors purchased a new stake in Iron Mountain during the fourth quarter valued at about $38,000. Finally, Headlands Technologies LLC acquired a new position in shares of Iron Mountain in the first quarter worth about $38,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

IRM opened at $118.19 on Tuesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $118.46. The stock has a fifty day moving average price of $106.61 and a 200 day moving average price of $90.31. The stock has a market cap of $34.65 billion, a price-to-earnings ratio of 179.08, a PEG ratio of 6.85 and a beta of 1.00.

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

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be paid a dividend of $0.715 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.42%. Iron Mountain’s dividend payout ratio is 433.33%.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of recent analyst reports. 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 note on Friday, August 2nd. Stifel Nicolaus raised their target price on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price objective on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.83.

Insider Activity at Iron Mountain

In other Iron Mountain news, COO John Tomovcsik sold 35,084 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.76, for a total transaction of $3,114,055.84. Following the transaction, the chief operating officer now directly owns 20,366 shares of the company’s stock, valued at $1,807,686.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Iron Mountain news, COO John Tomovcsik sold 35,084 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was 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 of the company’s stock, valued at $1,807,686.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward Baker-Greene sold 6,200 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.35, for a total value of $547,770.00. Following the transaction, the executive vice president now directly owns 11,311 shares in the company, valued at approximately $999,326.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,787 shares of company stock valued at $6,025,002. Insiders own 2.10% of the company’s stock.

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.