Iron Mountain Incorporated (NYSE:IRM) Stock Position Lifted by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 45.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,987 shares of the financial services provider’s stock after purchasing an additional 7,221 shares during the quarter. Bleakley Financial Group LLC’s holdings in Iron Mountain were worth $2,732,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Iron Mountain during the 2nd quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iron Mountain during the second quarter valued at approximately $36,000. Headlands Technologies LLC bought a new stake in Iron Mountain during the first quarter worth approximately $38,000. Family Firm Inc. acquired a new stake in Iron Mountain in the second quarter worth approximately $45,000. Finally, Optimum Investment Advisors bought a new position in Iron Mountain during the 1st quarter valued at $60,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Up 1.0 %

Shares of IRM opened at $125.74 on Friday. The business’s 50-day moving average price is $115.43 and its 200 day moving average price is $96.71. 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 stock has a market capitalization of $36.86 billion, a P/E ratio of 190.52, a P/E/G ratio of 7.22 and a beta of 1.00. Iron Mountain Incorporated has a 1-year low of $57.36 and a 1-year high of $125.81.

Iron Mountain (NYSE:IRM) last released its earnings results 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 return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business earned $0.94 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. Analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is presently 433.33%.

Insider Transactions at Iron Mountain

In related news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total transaction of $300,930.00. Following the transaction, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John Tomovcsik sold 2,866 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the sale, the chief operating officer now owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,503 shares of company stock valued at $3,511,505 over the last quarter. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group boosted their price target 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. 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. Stifel Nicolaus boosted 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. Finally, Wells Fargo & Company increased their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

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.