Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,646 shares of the financial services provider’s stock after selling 289 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Iron Mountain were worth $909,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain in the 2nd quarter valued at about $32,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain in the third quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Iron Mountain during the 2nd quarter valued at $36,000. Headlands Technologies LLC bought a new stake in Iron Mountain in the 1st quarter valued at $38,000. Finally, Family Firm Inc. bought a new stake in Iron Mountain in the 2nd quarter valued at $45,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IRM. The Goldman Sachs Group increased their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Barclays raised their price target on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Iron Mountain Stock Up 1.4 %

IRM stock opened at $127.70 on Friday. The company has a market cap of $37.46 billion, a PE ratio of 163.72, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00. The business has a 50-day simple moving average of $117.12 and a 200 day simple moving average of $98.32. Iron Mountain Incorporated has a 52 week low of $57.36 and a 52 week high of $130.24. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The business’s revenue was up 13.0% on a year-over-year basis. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is currently 366.67%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,503 shares of company stock worth $3,511,505 over the last 90 days. Insiders own 2.10% of the company’s stock.

Iron Mountain 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.