Mutual Advisors LLC Boosts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Mutual Advisors LLC grew its position in Iron Mountain Incorporated (NYSE:IRM) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,823 shares of the financial services provider’s stock after acquiring an additional 1,829 shares during the quarter. Mutual Advisors LLC’s holdings in Iron Mountain were worth $15,598,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain during the 2nd quarter worth approximately $32,000. West Branch Capital LLC purchased a new position in Iron Mountain in the third quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in Iron Mountain in the 1st quarter valued at about $38,000. Finally, Family Firm Inc. acquired a new position in shares of Iron Mountain in the second quarter worth $45,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IRM has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. 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 research report on Friday, August 2nd. Finally, Barclays boosted their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $115.50.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,503 shares of company stock worth $3,511,505. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Iron Mountain stock opened at $127.60 on Wednesday. The company has a market capitalization of $37.43 billion, a price-to-earnings ratio of 163.59, a price-to-earnings-growth ratio of 7.42 and a beta of 1.00. 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 fifty day moving average price is $117.85 and its 200 day moving average price is $99.34. Iron Mountain Incorporated has a 12-month low of $57.36 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is 366.67%.

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.