Cooper Financial Group Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

Cooper Financial Group bought a new position in Iron Mountain Incorporated (NYSE:IRM) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,924 shares of the financial services provider’s stock, valued at approximately $235,000.

Other institutional investors also recently modified their holdings of the company. Salem Investment Counselors Inc. increased its holdings in Iron Mountain by 6.1% during the first quarter. Salem Investment Counselors Inc. now owns 85,113 shares of the financial services provider’s stock worth $6,881,000 after buying an additional 4,888 shares during the last quarter. Optimum Investment Advisors bought a new stake in Iron Mountain in the 1st quarter valued at about $60,000. BTC Capital Management Inc. bought a new stake in shares of Iron Mountain in the first quarter valued at approximately $273,000. Park Avenue Securities LLC grew its position in Iron Mountain by 24.4% during the first quarter. Park Avenue Securities LLC now owns 19,851 shares of the financial services provider’s stock worth $1,592,000 after buying an additional 3,895 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of Iron Mountain by 0.5% in the 1st quarter. Czech National Bank now owns 51,376 shares of the financial services provider’s stock valued at $4,121,000 after acquiring an additional 236 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Greg W. Mcintosh sold 13,923 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $87.41, for a total value of $1,217,009.43. Following the completion of the sale, the executive vice president now directly owns 18,107 shares of the company’s stock, valued at $1,582,732.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares in the company, valued at $5,048,256.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg W. Mcintosh sold 13,923 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the sale, the executive vice president now directly owns 18,107 shares of the company’s stock, valued at approximately $1,582,732.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,227 shares of company stock valued at $5,125,392. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Barclays raised their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $73.80.

Iron Mountain Stock Up 0.2 %

Shares of IRM opened at $89.00 on Monday. Iron Mountain Incorporated has a 1 year low of $53.97 and a 1 year high of $89.91. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $80.84 and a two-hundred day simple moving average of $75.25. The firm has a market cap of $26.09 billion, a P/E ratio of 134.64, a P/E/G ratio of 5.26 and a beta of 0.95.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a $0.65 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.92%. Iron Mountain’s dividend payout ratio (DPR) is 393.95%.

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.