Trinity Legacy Partners LLC Grows Position in Iron Mountain Incorporated (NYSE:IRM)

Trinity Legacy Partners LLC raised its position in Iron Mountain Incorporated (NYSE:IRM) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,870 shares of the financial services provider’s stock after acquiring an additional 333 shares during the quarter. Iron Mountain makes up about 1.4% of Trinity Legacy Partners LLC’s holdings, making the stock its 27th biggest holding. Trinity Legacy Partners LLC’s holdings in Iron Mountain were worth $4,917,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRM. Cohen & Steers Inc. increased its holdings in shares of Iron Mountain by 202.1% in the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after acquiring an additional 15,035,937 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Iron Mountain by 11.6% during the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after purchasing an additional 475,849 shares in the last quarter. AGF Management Ltd. raised its holdings in Iron Mountain by 76.3% during the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after purchasing an additional 972,101 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock worth $190,553,000 after buying an additional 6,562 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its position in shares of Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after buying an additional 1,519,237 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $27,078,583.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,003 shares of company stock worth $3,352,406. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $119.17 on Wednesday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The business has a 50 day simple moving average of $109.07 and a 200-day simple moving average of $91.84. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $119.82. The stock has a market capitalization of $34.96 billion, a PE ratio of 180.56, a price-to-earnings-growth ratio of 7.09 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. Equities analysts predict that Iron Mountain Incorporated will post 4.17 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. Shareholders of record on Monday, September 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.40%. 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. Iron Mountain’s payout ratio is currently 433.34%.

Analyst Ratings Changes

IRM has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

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.