Stock Yards Bank & Trust Co. Sells 1,239 Shares of Iron Mountain Incorporated (NYSE:IRM)

Stock Yards Bank & Trust Co. decreased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,617 shares of the financial services provider’s stock after selling 1,239 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Iron Mountain were worth $2,654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain during the second quarter worth $32,000. Transcendent Capital Group LLC bought a new position in shares of Iron Mountain during the fourth quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain during the second quarter worth $36,000. Heritage Wealth Advisors bought a new position in shares of Iron Mountain during the fourth quarter worth $38,000. Finally, Headlands Technologies LLC bought a new position in shares of Iron Mountain during the first quarter worth $38,000. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In related news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now owns 14,000 shares in the company, valued at approximately $1,540,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now owns 14,000 shares in the company, valued at approximately $1,540,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward Baker-Greene sold 6,200 shares of Iron Mountain stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.35, for a total transaction of $547,770.00. Following the sale, the executive vice president now owns 11,311 shares of the company’s stock, valued at approximately $999,326.85. The disclosure for this sale can be found here. Insiders sold 65,787 shares of company stock worth $6,025,002 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

Iron Mountain stock opened at $115.90 on Wednesday. The firm has a 50-day moving average price of $106.61 and a 200-day moving average price of $90.31. The firm has a market capitalization of $33.97 billion, a PE ratio of 175.61, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $118.46.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results 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 return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $0.94 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a dividend of $0.715 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.47%. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Wall Street Analyst Weigh In

IRM has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company increased their price objective on shares of Iron Mountain from $110.00 to $120.00 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 assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Iron Mountain presently has a consensus 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.