Duncan Williams Asset Management LLC Acquires New Shares in Iron Mountain Incorporated (NYSE:IRM)

Duncan Williams Asset Management LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,453 shares of the financial services provider’s stock, valued at approximately $291,000.

A number of other large investors have also made changes to their positions in the company. Csenge Advisory Group increased its position in shares of Iron Mountain by 1.2% in the 2nd quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock valued at $853,000 after buying an additional 114 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Iron Mountain by 2.8% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 117 shares during the period. Perfromance Wealth Partners LLC boosted its stake in Iron Mountain by 2.4% in the 2nd quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 118 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Iron Mountain by 9.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 120 shares during the period. Finally, Terra Nova Asset Management LLC boosted its stake in Iron Mountain by 0.4% in the 2nd quarter. Terra Nova Asset Management LLC now owns 32,409 shares of the financial services provider’s stock worth $2,905,000 after purchasing an additional 120 shares during the period. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on IRM. JPMorgan Chase & Co. upped their target price on shares of 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 upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. 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 research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Iron Mountain Trading Down 0.8 %

Iron Mountain stock opened at $118.42 on Friday. The firm has a 50-day moving average of $111.39 and a 200-day moving average of $93.38. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $120.54. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $34.71 billion, a price-to-earnings ratio of 179.42, a P/E/G ratio of 7.09 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last posted 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 business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were paid a $0.715 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Tomovcsik sold 2,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief operating officer now directly owns 17,866 shares in the company, valued at $1,786,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,003 shares of company stock worth $3,352,406. Insiders own 2.10% of the company’s stock.

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.