Pathway Financial Advisers LLC Sells 2,841 Shares of Iron Mountain Incorporated (NYSE:IRM)

Pathway Financial Advisers LLC decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 18.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,725 shares of the financial services provider’s stock after selling 2,841 shares during the period. Pathway Financial Advisers LLC’s holdings in Iron Mountain were worth $1,512,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mutual Advisors LLC raised its position in shares of Iron Mountain by 1.5% in the 3rd quarter. Mutual Advisors LLC now owns 123,823 shares of the financial services provider’s stock worth $15,598,000 after acquiring an additional 1,829 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Iron Mountain by 180.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 5,935 shares of the financial services provider’s stock worth $745,000 after buying an additional 3,821 shares during the last quarter. Tyche Wealth Partners LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $220,000. Diversify Advisory Services LLC grew its stake in shares of Iron Mountain by 15.9% in the 3rd quarter. Diversify Advisory Services LLC now owns 7,942 shares of the financial services provider’s stock worth $984,000 after buying an additional 1,091 shares during the last quarter. Finally, Fortitude Family Office LLC grew its stake in shares of Iron Mountain by 480.3% in the 3rd quarter. Fortitude Family Office LLC now owns 8,548 shares of the financial services provider’s stock worth $1,016,000 after buying an additional 7,075 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 0.4 %

IRM opened at $127.60 on Wednesday. The firm has a market cap of $37.43 billion, a P/E ratio of 163.59, a P/E/G ratio of 7.42 and a beta of 1.00. Iron Mountain Incorporated has a 12 month low of $57.36 and a 12 month high of $130.24. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock has a 50-day moving average of $117.85 and a 200 day moving average of $99.34.

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

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.24%. 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. Iron Mountain’s dividend payout ratio is currently 366.67%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total transaction of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares in the company, valued at $1,575,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the transaction, the chief operating officer now directly owns 15,000 shares in the company, valued at $1,575,000. This 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 sold 30,503 shares of company stock worth $3,511,505. 2.10% of the stock is currently owned by company 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.