Commonwealth Equity Services LLC Buys 17,362 Shares of Iron Mountain Incorporated (NYSE:IRM)

Commonwealth Equity Services LLC raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 8.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 230,536 shares of the financial services provider’s stock after purchasing an additional 17,362 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.08% of Iron Mountain worth $20,661,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Cohen & Steers Inc. raised its position in Iron Mountain by 202.1% in the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after purchasing an additional 15,035,937 shares during the last quarter. Daiwa Securities Group Inc. raised its position 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. Norges Bank bought a new position in Iron Mountain in the 4th quarter valued at $228,391,000. Charles Schwab Investment Management Inc. raised its position in Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock valued at $220,975,000 after purchasing an additional 81,741 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Iron Mountain by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after purchasing an additional 6,562 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus lifted their target price on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group lifted their target price on 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 Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, 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 note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.83.

Insiders Place Their Bets

In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 3,095 shares of Iron Mountain stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $86.83, for a total value of $268,738.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,759 shares of company stock worth $7,588,339. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 1.1 %

Shares of Iron Mountain stock opened at $113.26 on Tuesday. 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 Incorporated has a 12 month low of $56.51 and a 12 month high of $114.93. The business has a fifty day simple moving average of $102.00 and a 200 day simple moving average of $87.41. The stock has a market cap of $33.22 billion, a PE ratio of 171.61, a price-to-earnings-growth ratio of 6.78 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Research analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.53%. Iron Mountain’s payout ratio is currently 393.95%.

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.