11,639 Shares in Iron Mountain Incorporated (NYSE:IRM) Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 11,639 shares of the financial services provider’s stock, valued at approximately $1,043,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Quadrant Capital Group LLC grew its position in Iron Mountain by 98.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,552 shares of the financial services provider’s stock worth $109,000 after buying an additional 769 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Iron Mountain by 2.3% during the 4th quarter. Brown Advisory Inc. now owns 10,094 shares of the financial services provider’s stock worth $706,000 after purchasing an additional 224 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Iron Mountain by 13.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,452 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 1,250 shares during the period. PNC Financial Services Group Inc. raised its stake in Iron Mountain by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 48,996 shares of the financial services provider’s stock valued at $3,429,000 after purchasing an additional 748 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in Iron Mountain by 0.7% during the fourth quarter. D.A. Davidson & CO. now owns 48,989 shares of the financial services provider’s stock worth $3,428,000 after purchasing an additional 335 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Down 2.0 %

Shares of NYSE:IRM opened at $114.13 on Friday. 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 52-week low of $56.51 and a 52-week high of $118.46. The company has a market capitalization of $33.46 billion, a PE ratio of 172.92, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00. The company has a fifty day moving average of $107.49 and a 200-day moving average of $90.73.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm 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 posted $0.94 earnings per share. Iron Mountain’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 16th. 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 2.51%. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, July 8th. The shares were sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $27,078,583.50. The sale was disclosed in a document filed with the SEC, 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 on Monday, July 8th. The stock was sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO John Tomovcsik sold 2,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the sale, the chief operating officer now owns 17,866 shares in the company, valued at approximately $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. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

IRM has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their price objective 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. JPMorgan Chase & Co. raised their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

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.