Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Caprock Group LLC

Caprock Group LLC raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 21.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,998 shares of the financial services provider’s stock after acquiring an additional 694 shares during the quarter. Caprock Group LLC’s holdings in Iron Mountain were worth $361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IRM. Strategic Financial Concepts LLC acquired a new position in Iron Mountain in the 2nd quarter valued at $209,000. SVB Wealth LLC raised its position in shares of Iron Mountain by 1.4% in the second quarter. SVB Wealth LLC now owns 15,139 shares of the financial services provider’s stock valued at $1,357,000 after buying an additional 212 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Iron Mountain by 10.4% in the second quarter. Private Advisor Group LLC now owns 93,985 shares of the financial services provider’s stock worth $8,423,000 after buying an additional 8,877 shares in the last quarter. National Bank of Canada FI boosted its position in Iron Mountain by 20.0% during the second quarter. National Bank of Canada FI now owns 96,561 shares of the financial services provider’s stock worth $8,660,000 after acquiring an additional 16,080 shares during the last quarter. Finally, Mayflower Financial Advisors LLC purchased a new stake in Iron Mountain during the 2nd quarter valued at about $200,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Iron Mountain 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO John Tomovcsik sold 1,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,882 shares of company stock worth $6,293,740. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IRM shares. JPMorgan Chase & Co. boosted their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group raised their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price target 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average target price of $99.83.

Iron Mountain Price Performance

NYSE:IRM opened at $116.36 on Friday. The company has a market capitalization of $34.11 billion, a P/E ratio of 176.30, a P/E/G ratio of 6.56 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $116.41. The stock’s fifty day moving average is $105.59 and its two-hundred day moving average is $89.53.

Iron Mountain (NYSE:IRM) last posted its earnings results 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). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. Equities analysts expect 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 given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

About Iron Mountain

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.