MGO One Seven LLC Acquires Shares of 9,763 Iron Mountain Incorporated (NYSE:IRM)

MGO One Seven LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,763 shares of the financial services provider’s stock, valued at approximately $875,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IRM. Cohen & Steers Inc. increased its stake in shares of Iron Mountain by 202.1% in the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after buying an additional 15,035,937 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after acquiring an additional 475,849 shares in the last quarter. Norges Bank bought a new stake in shares of Iron Mountain in the 4th quarter worth about $228,391,000. Bank of New York Mellon Corp raised its stake in shares of Iron Mountain by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after purchasing an additional 6,562 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Iron Mountain by 7,892.6% during the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after purchasing an additional 1,519,237 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Iron Mountain news, CAO Daniel Borges sold 3,095 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were 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 is accessible through this hyperlink. 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 transaction of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. The disclosure for this sale can be found here. Insiders sold 68,882 shares of company stock valued at $6,293,740 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stifel Nicolaus boosted their price objective on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company boosted their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their price objective 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Iron Mountain Stock Up 0.6 %

Shares of Iron Mountain stock opened at $117.06 on Friday. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $117.83. The stock has a market capitalization of $34.31 billion, a price-to-earnings ratio of 177.36, a PEG ratio of 6.85 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The business’s 50 day simple moving average is $106.10 and its 200-day simple moving average is $89.82.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. 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. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, September 16th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.44%. Iron Mountain’s payout ratio is currently 433.33%.

Iron Mountain Company 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.