Dimensional Fund Advisors LP Reduces Stake in Iron Mountain Incorporated (NYSE:IRM)

Dimensional Fund Advisors LP trimmed its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,286,068 shares of the financial services provider’s stock after selling 525 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Iron Mountain were worth $384,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its stake in Iron Mountain by 2.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock valued at $25,787,000 after acquiring an additional 7,486 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock valued at $47,547,000 after acquiring an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after acquiring an additional 12,540 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock valued at $65,787,000 after buying an additional 59,381 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its stake in shares of Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after buying an additional 1,519,237 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

NYSE IRM opened at $118.19 on Tuesday. Iron Mountain Incorporated has a 1 year low of $56.51 and a 1 year high of $118.46. 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 stock has a market capitalization of $34.65 billion, a PE ratio of 179.08, a P/E/G ratio of 6.85 and a beta of 1.00. The company’s 50 day simple moving average is $106.61 and its two-hundred day simple moving average is $90.31.

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 analysts’ consensus estimates 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%. Iron Mountain’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 EPS. Analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued 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 is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.42%. Iron Mountain’s dividend payout ratio is presently 433.33%.

Insider Transactions at Iron Mountain

In other news, COO John Tomovcsik sold 35,084 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.76, for a total value of $3,114,055.84. Following the transaction, the chief operating officer now owns 20,366 shares of the company’s stock, valued at approximately $1,807,686.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO John Tomovcsik sold 35,084 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $88.76, for a total value of $3,114,055.84. Following the transaction, the chief operating officer now owns 20,366 shares of the company’s stock, valued at approximately $1,807,686.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. The disclosure for this sale can be found here. Insiders have sold 65,787 shares of company stock valued at $6,025,002 in the last quarter. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IRM. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group upped their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

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.