Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Hutchens & Kramer Investment Management Group LLC

Hutchens & Kramer Investment Management Group LLC reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 16.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,170 shares of the financial services provider’s stock after selling 412 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in Iron Mountain were worth $257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Iron Mountain during the 2nd quarter valued at approximately $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter valued at about $36,000. Headlands Technologies LLC acquired a new stake in Iron Mountain during the first quarter worth about $38,000. Family Firm Inc. acquired a new position in Iron Mountain in the second quarter valued at approximately $45,000. Finally, Optimum Investment Advisors bought a new position in shares of Iron Mountain during the first quarter valued at approximately $60,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IRM. Barclays upped their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group lifted 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. Stifel Nicolaus increased their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company boosted their price target on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.00.

Insider Activity

In related news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The shares were 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. 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 90 days, insiders sold 30,503 shares of company stock worth $3,511,505. Insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM traded up $0.80 during midday trading on Tuesday, reaching $122.00. The stock had a trading volume of 1,144,207 shares, compared to its average volume of 1,608,208. 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 $35.76 billion, a P/E ratio of 184.85, a P/E/G ratio of 7.22 and a beta of 1.00. The firm’s 50 day moving average price is $114.39 and its 200-day moving average price is $96.00. Iron Mountain Incorporated has a 52 week low of $57.36 and a 52 week high of $123.55.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS 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 the consensus estimate of $1.50 billion. During the same quarter last year, the firm posted $0.94 earnings per share. Iron Mountain’s revenue was up 13.0% compared to the same quarter last year. On average, analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were given a $0.715 dividend. This is a positive change 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 yield of 2.34%. Iron Mountain’s payout ratio is 433.33%.

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.