First Affirmative Financial Network Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

First Affirmative Financial Network bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,735 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Centersquare Investment Management LLC boosted its stake in shares of Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after buying an additional 1,519,237 shares during the last quarter. Legal & General Group Plc lifted its stake in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after purchasing an additional 1,286,694 shares during the last quarter. AGF Management Ltd. lifted its stake in Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Iron Mountain by 11.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after purchasing an additional 475,849 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its stake in shares of Iron Mountain by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after acquiring an additional 402,625 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.1 %

IRM stock opened at $120.34 on Monday. 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 stock has a market capitalization of $35.28 billion, a price-to-earnings ratio of 182.33, a PEG ratio of 7.22 and a beta of 1.00. The business’s fifty day moving average price is $113.74 and its two-hundred day moving average price is $95.41. Iron Mountain Incorporated has a fifty-two week low of $57.36 and a fifty-two week high of $120.70.

Iron Mountain (NYSE:IRM) last posted 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). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 annualized dividend and a yield of 2.38%. Iron Mountain’s dividend payout ratio is currently 433.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IRM shares. Barclays raised their price target on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Stifel Nicolaus upped their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. increased their price target on shares of 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 boosted their price objective on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.00.

Insiders Place Their Bets

In other news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares of the company’s stock, valued at $1,540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,003 shares of company stock worth $3,761,505 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

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.