Edgestream Partners L.P. Raises Holdings in Iron Mountain Incorporated (NYSE:IRM)

Edgestream Partners L.P. grew its position in Iron Mountain Incorporated (NYSE:IRM) by 147.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,679 shares of the financial services provider’s stock after buying an additional 33,803 shares during the quarter. Edgestream Partners L.P.’s holdings in Iron Mountain were worth $5,080,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain during the 2nd quarter worth $32,000. Transcendent Capital Group LLC purchased a new stake in shares of Iron Mountain during the 4th quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain during the 2nd quarter worth $36,000. Heritage Wealth Advisors purchased a new stake in shares of Iron Mountain during the 4th quarter worth $38,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Iron Mountain during the 1st quarter worth $38,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $27,078,583.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $27,078,583.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Tomovcsik sold 35,084 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.76, for a total value of $3,114,055.84. Following the completion of the sale, the chief operating officer now owns 20,366 shares in the company, valued at approximately $1,807,686.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,787 shares of company stock valued at $6,025,002. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Down 1.9 %

Shares of IRM stock opened at $115.90 on Wednesday. The stock’s 50-day simple moving average is $106.61 and its 200-day simple moving average is $90.31. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market capitalization of $33.97 billion, a PE ratio of 175.61, a P/E/G ratio of 6.85 and a beta of 1.00. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $118.46.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. Equities analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company 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 $0.715 dividend. 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 2.47%. Iron Mountain’s dividend payout ratio is currently 433.33%.

Analyst Ratings Changes

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