Harbour Trust & Investment Management Co Invests $214,000 in Iron Mountain Incorporated (NYSE:IRM)

Harbour Trust & Investment Management Co acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,800 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other hedge funds have also bought and sold shares of the company. West Branch Capital LLC acquired a new stake in Iron Mountain during the 3rd quarter worth about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain during the second quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Iron Mountain in the second quarter worth approximately $36,000. Headlands Technologies LLC acquired a new position in Iron Mountain in the first quarter valued at approximately $38,000. Finally, Family Firm Inc. bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $45,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $127.70 on Friday. The stock has a market cap of $37.46 billion, a price-to-earnings ratio of 163.72, a PEG ratio of 7.42 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. Iron Mountain Incorporated has a fifty-two week low of $57.36 and a fifty-two week high of $130.24. The firm’s 50-day simple moving average is $117.12 and its 200 day simple moving average is $98.32.

Iron Mountain (NYSE:IRM) last posted 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). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors 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. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 366.67%.

Insiders Place Their Bets

In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of Iron Mountain stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the transaction, the chief operating officer now owns 14,000 shares of the company’s stock, valued at $1,540,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William L. Meaney sold 15,875 shares of the firm’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 completion of the sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,503 shares of company stock valued at $3,511,505. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

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

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.