EWG Elevate Inc. Sells 67,867 Shares of Iron Mountain Incorporated (NYSE:IRM)

EWG Elevate Inc. decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 90.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,865 shares of the financial services provider’s stock after selling 67,867 shares during the quarter. EWG Elevate Inc.’s holdings in Iron Mountain were worth $615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IRM. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain in the second quarter worth about $36,000. Headlands Technologies LLC bought a new position in shares of Iron Mountain in the first quarter worth about $38,000. Transcendent Capital Group LLC bought a new position in shares of Iron Mountain in the fourth quarter worth about $36,000. Heritage Wealth Advisors bought a new position in shares of Iron Mountain in the fourth quarter worth about $38,000. Finally, Harbor Investment Advisory LLC lifted its holdings in shares of Iron Mountain by 48.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 618 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 201 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 0.7 %

Shares of IRM traded down $0.78 during trading hours on Tuesday, reaching $107.89. The stock had a trading volume of 1,467,301 shares, compared to its average volume of 1,665,359. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $112.79. The firm has a 50-day simple moving average of $95.21 and a 200 day simple moving average of $83.15. The company has a current ratio of 0.79, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The company has a market capitalization of $31.63 billion, a price-to-earnings ratio of 163.47, a P/E/G ratio of 6.49 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. Iron Mountain’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts predict that Iron Mountain Incorporated will post 4.22 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.65%. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IRM shares. The Goldman Sachs Group increased their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price objective on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company upped their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.29.

Insider Buying and Selling at Iron Mountain

In other news, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction on Monday, June 17th. The stock was sold at an average price of $86.83, for a total transaction of $268,738.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $81.03, for a total value of $1,286,351.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $23,956,519.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,372 shares of company stock worth $8,516,435. Corporate insiders own 2.10% 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.