Janney Montgomery Scott LLC Cuts Stake in Iron Mountain Incorporated $IRM

Janney Montgomery Scott LLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 90,708 shares of the financial services provider’s stock after selling 222 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Iron Mountain were worth $9,304,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IRM. Whittier Trust Co. lifted its holdings in shares of Iron Mountain by 3.4% in the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock worth $281,000 after buying an additional 108 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 118 shares during the last quarter. Diversify Advisory Services LLC grew its holdings in shares of Iron Mountain by 1.9% in the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 123 shares during the last quarter. NorthRock Partners LLC lifted its stake in Iron Mountain by 2.6% in the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 131 shares during the period. Finally, Savvy Advisors Inc. lifted its stake in Iron Mountain by 5.6% in the first quarter. Savvy Advisors Inc. now owns 2,668 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 141 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of IRM stock opened at $105.08 on Friday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock’s 50-day moving average is $95.72 and its 200 day moving average is $94.86. The company has a market cap of $31.03 billion, a P/E ratio of 750.60 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the business posted $1.08 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is presently 2,242.86%.

Analysts Set New Price Targets

Several equities analysts have commented on IRM shares. Jefferies Financial Group began coverage on Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective for the company. JPMorgan Chase & Co. cut their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Saturday, September 27th. Finally, Barclays upped their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $116.83.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. This trade represents a 7.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,375 shares of company stock valued at $20,347,156. Company insiders own 1.90% of the company’s stock.

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.