MADDEN SECURITIES Corp Has $661,000 Position in Iron Mountain Incorporated (NYSE:IRM)

MADDEN SECURITIES Corp lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,375 shares of the financial services provider’s stock after selling 575 shares during the quarter. MADDEN SECURITIES Corp’s holdings in Iron Mountain were worth $661,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain during the second quarter worth about $36,000. Headlands Technologies LLC bought a new position in Iron Mountain during the first quarter worth about $38,000. Transcendent Capital Group LLC bought a new position in Iron Mountain during the fourth quarter worth about $36,000. Finally, Heritage Wealth Advisors bought a new position in Iron Mountain during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, EVP Greg W. Mcintosh sold 13,923 shares of Iron Mountain stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the transaction, the executive vice president now directly owns 18,107 shares of the company’s stock, valued at approximately $1,582,732.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO John Tomovcsik sold 2,866 shares of the business’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 of the company’s stock, valued at approximately $1,575,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg W. Mcintosh sold 13,923 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the completion of the transaction, the executive vice president now directly owns 18,107 shares in the company, valued at $1,582,732.87. The disclosure for this sale can be found here. Insiders have sold 96,372 shares of company stock valued at $8,516,435 in the last three months. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports 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 research note on Friday, August 2nd. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company increased their price objective 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.29.

Iron Mountain Trading Up 1.7 %

Iron Mountain stock traded up $1.81 during mid-day trading on Thursday, hitting $107.37. 1,363,630 shares of the stock were exchanged, compared to its average volume of 1,672,687. The company has a quick ratio of 0.86, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $112.79. The firm’s fifty day simple moving average is $93.57 and its two-hundred day simple moving average is $82.08. The stock has a market capitalization of $31.47 billion, a price-to-earnings ratio of 162.68, a PEG ratio of 6.49 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data 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). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. Analysts forecast that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The company 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 dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.66%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s payout ratio is currently 433.33%.

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.