Schmidt P J Investment Management Inc. Grows Position in Iron Mountain Incorporated (NYSE:IRM)

Schmidt P J Investment Management Inc. increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,860 shares of the financial services provider’s stock after purchasing an additional 100 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Iron Mountain were worth $340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IRM. Assenagon Asset Management S.A. lifted its stake in shares of Iron Mountain by 0.8% in the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 92 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in Iron Mountain by 2.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 107 shares in the last quarter. Csenge Advisory Group grew its stake in Iron Mountain by 1.2% during the 2nd quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 114 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in Iron Mountain by 2.8% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 117 shares in the last quarter. Finally, Perfromance Wealth Partners LLC grew its stake in Iron Mountain by 2.4% during the 2nd quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at $993,127.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Iron Mountain 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 transaction of $110,000.00. Following the sale, the chief operating officer now owns 14,000 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,503 shares of company stock valued at $3,511,505. Insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 0.3 %

Shares of NYSE IRM opened at $125.97 on Friday. The company has a market cap of $36.93 billion, a price-to-earnings ratio of 190.86, a price-to-earnings-growth ratio of 7.22 and a beta of 1.00. Iron Mountain Incorporated has a 12-month low of $57.36 and a 12-month high of $127.05. 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’s 50 day simple moving average is $116.73 and its 200 day simple moving average is $97.98.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the business posted $0.94 EPS. Equities research analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a $0.715 dividend. This is an increase 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 2.27%. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective 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 objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Barclays lifted their target price on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

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.