Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,845 shares of the financial services provider’s stock after selling 1,410 shares during the period. Royal London Asset Management Ltd.’s holdings in Iron Mountain were worth $11,637,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain during the 2nd quarter valued at $32,000. Transcendent Capital Group LLC purchased a new position in Iron Mountain in the fourth quarter valued at about $36,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain during the 2nd quarter valued at approximately $36,000. Heritage Wealth Advisors purchased a new stake in Iron Mountain during the 4th quarter worth approximately $38,000. Finally, Headlands Technologies LLC acquired a new position in shares of Iron Mountain in the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.7 %

Iron Mountain stock opened at $116.36 on Friday. The company’s 50-day moving average price is $105.59 and its two-hundred day moving average price is $89.53. The stock has a market cap of $34.11 billion, a price-to-earnings ratio of 176.30, a PEG ratio of 6.56 and a beta of 1.00. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $116.41. 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 (NYSE:IRM) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. Iron Mountain’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. On average, analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a $0.715 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.46%. Iron Mountain’s dividend payout ratio is 433.33%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IRM. The Goldman Sachs Group upped their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus increased their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company boosted their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Insider Activity at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 3,095 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The disclosure for this sale can be found here. Insiders sold 68,882 shares of company stock valued at $6,293,740 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

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.