Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by DNB Asset Management AS

DNB Asset Management AS boosted its stake in Iron Mountain Incorporated (NYSE:IRM) by 8.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 48,923 shares of the financial services provider’s stock after acquiring an additional 3,822 shares during the quarter. DNB Asset Management AS’s holdings in Iron Mountain were worth $4,384,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Iron Mountain by 201.7% in the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 242 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in Iron Mountain by 4.4% in the 4th quarter. DAVENPORT & Co LLC now owns 22,159 shares of the financial services provider’s stock valued at $1,551,000 after purchasing an additional 925 shares in the last quarter. Ballentine Partners LLC purchased a new position in Iron Mountain in the 4th quarter valued at $241,000. Arizona State Retirement System lifted its holdings in Iron Mountain by 0.8% in the 4th quarter. Arizona State Retirement System now owns 80,213 shares of the financial services provider’s stock valued at $5,613,000 after purchasing an additional 652 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Iron Mountain in the 4th quarter valued at $16,590,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, COO John Tomovcsik sold 35,084 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.76, for a total value of $3,114,055.84. Following the transaction, the chief operating officer now directly owns 20,366 shares in the company, valued at approximately $1,807,686.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Iron Mountain news, COO John Tomovcsik sold 35,084 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total value of $1,286,351.25. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The disclosure for this sale can be found here. Insiders have sold 96,372 shares of company stock worth $8,516,435 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.29.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $106.43 on Wednesday. The firm’s fifty day simple moving average is $92.47 and its 200-day simple moving average is $81.74. The stock has a market capitalization of $31.20 billion, a price-to-earnings ratio of 161.26, a PEG ratio of 6.49 and a beta of 0.98. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $112.79. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.86.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.22 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be given a $0.715 dividend. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.69%. Iron Mountain’s payout ratio is currently 433.33%.

Iron Mountain Company 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.