Chevy Chase Trust Holdings LLC Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

Chevy Chase Trust Holdings LLC lessened its position in Iron Mountain Incorporated (NYSE:IRM) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 160,057 shares of the financial services provider’s stock after selling 1,644 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Iron Mountain were worth $14,344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Csenge Advisory Group raised its stake in shares of Iron Mountain by 1.2% in the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after purchasing an additional 114 shares during the last quarter. Perfromance Wealth Partners LLC boosted its position in shares of Iron Mountain by 2.4% during the second quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 118 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Iron Mountain by 9.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock worth $121,000 after buying an additional 120 shares in the last quarter. Terra Nova Asset Management LLC boosted its stake in Iron Mountain by 0.4% during the second quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock valued at $2,905,000 after buying an additional 120 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its stake in Iron Mountain by 1.1% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 11,432 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 122 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 2.0 %

Iron Mountain stock traded up $2.20 during trading hours on Wednesday, hitting $111.72. The company had a trading volume of 631,585 shares, compared to its average volume of 1,649,447. The firm has a market cap of $32.75 billion, a P/E ratio of 165.91, a P/E/G ratio of 6.49 and a beta of 0.98. The company has a 50-day moving average price of $97.57 and a two-hundred day moving average price of $84.58. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $112.79. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last issued 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). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. Iron Mountain’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 EPS. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.22 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.56%. Iron Mountain’s payout ratio is 433.33%.

Insider Activity at Iron Mountain

In other news, COO John Tomovcsik sold 2,866 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 of the company’s stock, valued at approximately $1,575,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief operating officer now directly owns 15,000 shares in the company, valued at approximately $1,575,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Daniel Borges sold 3,095 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The disclosure for this sale can be found here. Insiders have sold a total of 96,372 shares of company stock valued at $8,516,435 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target 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. Stifel Nicolaus boosted their price objective on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.29.

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.