Iron Mountain Incorporated (NYSE:IRM) Holdings Boosted by Greenleaf Trust

Greenleaf Trust boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,386 shares of the financial services provider’s stock after buying an additional 230 shares during the quarter. Greenleaf Trust’s holdings in Iron Mountain were worth $878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Iron Mountain during the 2nd quarter worth approximately $32,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain during the 3rd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter valued at $36,000. Headlands Technologies LLC acquired a new stake in shares of Iron Mountain during the 1st quarter valued at $38,000. Finally, Family Firm Inc. acquired a new stake in shares of Iron Mountain during the 2nd quarter valued at $45,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IRM. Wells Fargo & Company lifted 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, October 17th. Barclays lifted their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group lifted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective 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. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction 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 $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares in the company, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their position. 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 in the last quarter. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 0.3 %

IRM stock opened at $125.97 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 1 year low of $57.36 and a 1 year high of $127.05. The company has a fifty day simple moving average of $116.73 and a 200 day simple moving average of $97.98. The firm has a market cap of $36.93 billion, a PE ratio of 190.86, a PEG ratio of 7.22 and a beta of 1.00.

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 analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced 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. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.27%. Iron Mountain’s payout ratio is currently 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.