Iron Mountain Incorporated $IRM Shares Sold by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 37.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,623 shares of the financial services provider’s stock after selling 1,558 shares during the period. Ameritas Advisory Services LLC’s holdings in Iron Mountain were worth $269,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Iron Mountain during the second quarter worth $349,000. TPG Advisors LLC acquired a new position in shares of Iron Mountain during the second quarter worth $200,000. Community Bank & Trust Waco Texas acquired a new position in shares of Iron Mountain during the second quarter worth $226,000. PFG Investments LLC lifted its position in shares of Iron Mountain by 0.6% during the second quarter. PFG Investments LLC now owns 23,599 shares of the financial services provider’s stock worth $2,421,000 after purchasing an additional 133 shares in the last quarter. Finally, LBP AM SA acquired a new position in shares of Iron Mountain during the second quarter worth $11,741,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target 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. JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $116.83.

Iron Mountain Stock Down 0.5%

Shares of NYSE:IRM opened at $105.87 on Wednesday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The firm has a 50-day simple moving average of $96.02 and a 200 day simple moving average of $95.11. The company has a market cap of $31.27 billion, a PE ratio of 756.30 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

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

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares of the company’s stock, valued at $7,200,325.05. This represents a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 213,375 shares of company stock valued at $20,347,156 in the last quarter. Insiders own 1.90% 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.