Iron Mountain Incorporated $IRM Position Decreased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 7.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 145,818 shares of the financial services provider’s stock after selling 12,038 shares during the period. Commonwealth Equity Services LLC’s holdings in Iron Mountain were worth $16,178,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Iron Mountain in the 2nd quarter valued at approximately $4,240,342,000. Principal Financial Group Inc. boosted its stake in Iron Mountain by 8.5% in the 1st quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock worth $466,382,000 after purchasing an additional 358,497 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Iron Mountain by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider’s stock worth $464,931,000 after purchasing an additional 122,927 shares during the last quarter. Legal & General Group Plc purchased a new stake in Iron Mountain during the 2nd quarter worth approximately $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Iron Mountain by 29,674.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider’s stock valued at $403,379,000 after purchasing an additional 3,182,834 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IRM shares. JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $147.00 to $124.00 and set an “overweight” rating for the company in a report on Friday, November 6th. Weiss Ratings downgraded shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Wall Street Zen lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Jefferies Financial Group cut their target price on Iron Mountain from $147.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, Barclays boosted their price target on Iron Mountain from $143.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $141.33.

Iron Mountain Trading Down 0.1%

Iron Mountain stock opened at $110.73 on Wednesday. The stock’s 50 day simple moving average is $113.52 and its two-hundred day simple moving average is $115.55. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The firm has a market cap of $32.98 billion, a PE ratio of 72.37 and a beta of 1.18.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Iron Mountain had a net margin of 5.88% and a negative return on equity of 79.98%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Tuesday, December 15th will be paid a $0.9930 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.8640. This represents a $3.97 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, December 15th. Iron Mountain’s dividend payout ratio is presently 226.14%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Greg McIntosh sold 5,000 shares of Iron Mountain stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $116.96, for a total transaction of $584,800.00. Following the sale, the executive vice president owned 65,634 shares of the company’s stock, valued at $7,676,552.64. The trade was a 7.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total transaction of $693,600.00. Following the transaction, the executive vice president owned 95,507 shares in the company, valued at $11,040,609.20. The trade was a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 136,422 shares of company stock valued at $15,116,038 over the last ninety days. Insiders own 1.70% of the company’s stock.

Iron Mountain Profile

Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions. The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.