Modera Wealth Management LLC Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

Modera Wealth Management LLC bought a new position in Iron Mountain Incorporated (NYSE:IRM) during the third quarter, HoldingsChannel.com reports. The fund bought 1,928 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. State of Alaska Department of Revenue grew its position in shares of Iron Mountain by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 170,027 shares of the financial services provider’s stock worth $13,637,000 after buying an additional 637 shares in the last quarter. Norden Group LLC bought a new position in shares of Iron Mountain during the 1st quarter worth $657,000. First Trust Direct Indexing L.P. grew its position in shares of Iron Mountain by 6.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 6,114 shares of the financial services provider’s stock worth $490,000 after buying an additional 356 shares in the last quarter. American Institute for Advanced Investment Management LLP grew its position in shares of Iron Mountain by 6.9% during the 1st quarter. American Institute for Advanced Investment Management LLP now owns 11,605 shares of the financial services provider’s stock worth $931,000 after buying an additional 750 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in shares of Iron Mountain by 2.1% during the 1st quarter. Private Advisor Group LLC now owns 85,108 shares of the financial services provider’s stock worth $6,827,000 after buying an additional 1,778 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $127.60 on Wednesday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $37.43 billion, a PE ratio of 163.59, a P/E/G ratio of 7.42 and a beta of 1.00. The business has a 50-day simple moving average of $117.85 and a two-hundred day simple moving average of $99.34. Iron Mountain Incorporated has a fifty-two week low of $57.36 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) 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 quarter in the previous 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. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.24%. 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. Iron Mountain’s dividend payout ratio (DPR) is presently 366.67%.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, October 7th. The stock was 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 directly owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, October 7th. The stock was 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 directly owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. 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 worth $3,511,505 over the last three months. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Barclays raised their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their price objective on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Iron Mountain 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.