Iron Mountain Incorporated (NYSE:IRM) Position Lifted by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 37.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,566 shares of the financial services provider’s stock after purchasing an additional 2,590 shares during the period. J.W. Cole Advisors Inc.’s holdings in Iron Mountain were worth $1,137,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain in the second quarter valued at about $32,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain in the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain in the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of Iron Mountain during the 1st quarter valued at approximately $38,000. Finally, Family Firm Inc. bought a new position in Iron Mountain during the second quarter worth $45,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $127.60 on Wednesday. The firm’s 50 day moving average is $117.85 and its two-hundred day moving average is $99.34. The firm has a market capitalization of $37.43 billion, a P/E ratio of 163.59, a PEG ratio of 7.42 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 52 week low of $57.36 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $0.94 EPS. The firm’s revenue was up 13.0% on a year-over-year basis. Analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 366.67%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value 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 $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO John Tomovcsik sold 2,866 shares of Iron Mountain stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $105.00, for a total transaction of $300,930.00. Following the transaction, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at $1,575,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,503 shares of company stock valued at $3,511,505. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on IRM. 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 note on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. 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. Stifel Nicolaus upped their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Barclays raised their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus 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.