Wakefield Asset Management LLLP Sells 403 Shares of Iron Mountain Incorporated (NYSE:IRM)

Wakefield Asset Management LLLP decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,556 shares of the financial services provider’s stock after selling 403 shares during the quarter. Iron Mountain accounts for approximately 1.5% of Wakefield Asset Management LLLP’s investment portfolio, making the stock its 9th largest holding. Wakefield Asset Management LLLP’s holdings in Iron Mountain were worth $4,174,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Fisher Asset Management LLC purchased a new stake in Iron Mountain in the fourth quarter valued at $313,000. National Bank of Canada FI grew its holdings in Iron Mountain by 7.5% during the fourth quarter. National Bank of Canada FI now owns 84,160 shares of the financial services provider’s stock worth $5,776,000 after acquiring an additional 5,886 shares during the period. Spire Wealth Management raised its position in Iron Mountain by 258.6% during the fourth quarter. Spire Wealth Management now owns 9,896 shares of the financial services provider’s stock valued at $662,000 after acquiring an additional 7,136 shares in the last quarter. Montag A & Associates Inc. raised its position in Iron Mountain by 8.6% during the fourth quarter. Montag A & Associates Inc. now owns 10,396 shares of the financial services provider’s stock valued at $734,000 after acquiring an additional 825 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Iron Mountain in the fourth quarter valued at approximately $784,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg W. Mcintosh sold 13,923 shares of the firm’s stock in a transaction that occurred on 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. Over the last ninety days, insiders sold 82,805 shares of company stock worth $7,510,750. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IRM. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus raised their target price on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.83.

Iron Mountain Stock Performance

NYSE:IRM opened at $109.48 on Friday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $32.09 billion, a PE ratio of 165.88, a P/E/G ratio of 6.78 and a beta of 1.00. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $114.93. The company has a fifty day moving average of $103.77 and a two-hundred day moving average of $88.34.

Iron Mountain (NYSE:IRM) last released 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 company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is 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.