1,984 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by Wesbanco Bank Inc.

Wesbanco Bank Inc. bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,984 shares of the financial services provider’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Centersquare Investment Management LLC lifted its holdings in Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after acquiring an additional 1,519,237 shares during the period. Legal & General Group Plc grew its position in Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares during the period. AGF Management Ltd. raised its position in Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after acquiring an additional 972,101 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of 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 during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of Iron Mountain by 45.0% in 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 purchasing an additional 402,625 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of the firm’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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now owns 14,829 shares in the company, valued at $1,725,799.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,503 shares of company stock valued at $3,511,505 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 1.2 %

Shares of IRM stock opened at $123.42 on Thursday. The company’s fifty day simple moving average is $114.74 and its two-hundred day simple moving average is $96.19. Iron Mountain Incorporated has a 52 week low of $57.36 and a 52 week high of $124.12. The stock has a market cap of $36.18 billion, a P/E ratio of 187.00, a PEG ratio of 7.22 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 (NYSE:IRM) last announced its quarterly 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 firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. Iron Mountain’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. Analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 annualized dividend and a yield of 2.32%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Analyst Ratings Changes

IRM has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. 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 report on Friday, August 2nd. JPMorgan Chase & Co. lifted 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. Barclays raised their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus upped their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.00.

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.