James Hambro & Partners LLP Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

James Hambro & Partners LLP reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,608 shares of the financial services provider’s stock after selling 15,496 shares during the period. Iron Mountain comprises approximately 0.5% of James Hambro & Partners LLP’s holdings, making the stock its 23rd largest position. James Hambro & Partners LLP’s holdings in Iron Mountain were worth $12,429,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IRM. Centersquare Investment Management LLC lifted its position in shares of Iron Mountain by 7,892.6% during 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 in the last quarter. Legal & General Group Plc increased its stake in Iron Mountain by 49.2% in the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after purchasing an additional 1,286,694 shares during the period. AGF Management Ltd. lifted its holdings in Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after buying an additional 972,101 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Iron Mountain by 11.6% during the 1st 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 during the period. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of Iron Mountain by 45.0% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock valued at $116,356,000 after acquiring an additional 402,625 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on 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 completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,503 shares of company stock valued at $3,511,505. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

IRM traded down $1.85 during trading on Monday, reaching $123.91. 394,632 shares of the stock were exchanged, compared to its average volume of 1,594,539. 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 company has a market capitalization of $36.32 billion, a price-to-earnings ratio of 190.55, a P/E/G ratio of 7.22 and a beta of 1.00. The business’s 50 day moving average price is $115.43 and its two-hundred day moving average price is $96.83. Iron Mountain Incorporated has a 1 year low of $57.36 and a 1 year high of $125.81.

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

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were given a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.31%. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Analysts Set New Price Targets

Several research firms recently commented on IRM. The Goldman Sachs Group boosted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays lifted their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday. Stifel Nicolaus boosted their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. boosted their price target 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 and five have assigned a buy rating to the company. According to MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

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.