Iron Mountain Incorporated (NYSE:IRM) is Sargent Investment Group LLC’s 9th Largest Position

Sargent Investment Group LLC reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 126,360 shares of the financial services provider’s stock after selling 9,566 shares during the period. Iron Mountain makes up 2.3% of Sargent Investment Group LLC’s investment portfolio, making the stock its 9th largest holding. Sargent Investment Group LLC’s holdings in Iron Mountain were worth $11,324,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Csenge Advisory Group grew its holdings in shares of Iron Mountain by 1.2% during the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after buying an additional 114 shares during the last quarter. Perfromance Wealth Partners LLC boosted its holdings in shares of Iron Mountain by 2.4% in the second quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 118 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in Iron Mountain by 9.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 120 shares during the period. Terra Nova Asset Management LLC boosted its stake in shares of Iron Mountain by 0.4% in the second quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock valued at $2,905,000 after buying an additional 120 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its position in Iron Mountain by 1.1% in the first quarter. Jaffetilchin Investment Partners LLC now owns 11,432 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 122 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Up 1.6 %

Shares of NYSE IRM opened at $118.19 on Tuesday. 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 firm’s 50-day moving average is $106.61 and its two-hundred day moving average is $90.31. Iron Mountain Incorporated has a 12-month low of $56.51 and a 12-month high of $118.46. The company has a market capitalization of $34.65 billion, a PE ratio of 179.08, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last posted 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 net margin of 3.94% and a return on equity of 595.44%. 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 previous year, the company posted $0.94 EPS. Iron Mountain’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a $0.715 dividend. This is an increase 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 annualized dividend and a yield of 2.42%. Iron Mountain’s payout ratio is presently 433.33%.

Insider Buying and Selling at Iron Mountain

In other 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 directly owns 14,000 shares in the company, valued at $1,540,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction dated Tuesday, August 20th. The stock was 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 $993,127.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the sale, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,787 shares of company stock worth $6,025,002. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

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