Iron Mountain Incorporated $IRM Stock Holdings Decreased by Foresight Capital Management Advisors Inc.

Foresight Capital Management Advisors Inc. reduced its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,716 shares of the financial services provider’s stock after selling 1,469 shares during the period. Iron Mountain comprises about 5.2% of Foresight Capital Management Advisors Inc.’s holdings, making the stock its 2nd largest holding. Foresight Capital Management Advisors Inc.’s holdings in Iron Mountain were worth $8,894,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Miracle Mile Advisors LLC raised its holdings in Iron Mountain by 134.7% during the first quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider’s stock valued at $649,000 after buying an additional 4,330 shares in the last quarter. Vert Asset Management LLC boosted its position in Iron Mountain by 5.2% during the first quarter. Vert Asset Management LLC now owns 136,046 shares of the financial services provider’s stock worth $11,705,000 after purchasing an additional 6,780 shares during the period. Courier Capital LLC grew its holdings in Iron Mountain by 7.1% during the first quarter. Courier Capital LLC now owns 31,609 shares of the financial services provider’s stock valued at $2,720,000 after purchasing an additional 2,107 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Iron Mountain by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 4,773 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 185 shares during the period. Finally, Ameliora Wealth Management Ltd. lifted its stake in shares of Iron Mountain by 3,250.0% in the first quarter. Ameliora Wealth Management Ltd. now owns 3,350 shares of the financial services provider’s stock worth $288,000 after buying an additional 3,250 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

IRM opened at $106.44 on Tuesday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The business’s 50-day simple moving average is $95.89 and its 200 day simple moving average is $95.03. The firm has a market capitalization of $31.44 billion, a PE ratio of 760.34 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were paid a $0.785 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.0%. Iron Mountain’s dividend payout ratio is presently 2,242.86%.

Insider Activity at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. Insiders sold a total of 213,375 shares of company stock worth $20,347,156 in the last quarter. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays upped their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Jefferies Financial Group assumed coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $116.83.

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.