Dumont & Blake Investment Advisors LLC Sells 30,334 Shares of Iron Mountain Incorporated (NYSE:IRM)

Dumont & Blake Investment Advisors LLC cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 49.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,474 shares of the financial services provider’s stock after selling 30,334 shares during the period. Iron Mountain comprises 1.0% of Dumont & Blake Investment Advisors LLC’s holdings, making the stock its 20th largest holding. Dumont & Blake Investment Advisors LLC’s holdings in Iron Mountain were worth $3,621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC increased its holdings in Iron Mountain by 177.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 12,789 shares of the financial services provider’s stock worth $1,026,000 after purchasing an additional 8,184 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Iron Mountain by 13.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 63,269 shares of the financial services provider’s stock valued at $5,075,000 after purchasing an additional 7,282 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Iron Mountain in the first quarter worth about $306,000. Claro Advisors LLC purchased a new stake in Iron Mountain in the 1st quarter worth approximately $1,445,000. Finally, Oak Thistle LLC acquired a new stake in Iron Mountain during the first quarter valued at $244,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Barclays raised their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. increased 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. Finally, The Goldman Sachs Group lifted their price target 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. 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, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Insider Transactions at Iron Mountain

In related news, COO John Tomovcsik sold 2,866 shares of the firm’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 completion of the sale, the chief operating officer now owns 15,000 shares in the company, valued at $1,575,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John Tomovcsik sold 2,866 shares of the business’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 sale, the chief operating officer now owns 15,000 shares in the company, valued at $1,575,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,503 shares of company stock worth $3,511,505 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Performance

Shares of IRM stock traded up $1.53 during trading hours on Friday, hitting $127.50. The stock had a trading volume of 97,896 shares, compared to its average volume of 1,587,777. 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 firm has a market capitalization of $37.37 billion, a PE ratio of 190.86, a PEG ratio of 7.22 and a beta of 1.00. The stock’s 50 day moving average is $116.73 and its 200 day moving average is $97.98. Iron Mountain Incorporated has a twelve month low of $57.36 and a twelve month high of $127.50.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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 net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The firm’s revenue 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 was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Iron Mountain 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.