AE Wealth Management LLC Acquires 6,611 Shares of Iron Mountain Incorporated (NYSE:IRM)

AE Wealth Management LLC raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 58.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,006 shares of the financial services provider’s stock after purchasing an additional 6,611 shares during the period. AE Wealth Management LLC’s holdings in Iron Mountain were worth $1,614,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. State Board of Administration of Florida Retirement System grew its position in Iron Mountain by 2.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after buying an additional 7,486 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after purchasing an additional 110,551 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after purchasing an additional 12,540 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Iron Mountain by 6.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after purchasing an additional 59,381 shares during the period. Finally, Centersquare Investment Management LLC grew its stake in Iron Mountain by 7,892.6% during the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after buying an additional 1,519,237 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IRM shares. Wells Fargo & Company upped their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on 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 lifted their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus upped their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday. One equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Iron Mountain Stock Up 2.7 %

Shares of NYSE:IRM opened at $118.42 on Tuesday. 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 $118.74. The company has a market capitalization of $34.71 billion, a PE ratio of 179.42, a price-to-earnings-growth ratio of 6.85 and a beta of 1.00. The company has a fifty day moving average of $108.68 and a 200-day moving average of $91.58.

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. Shareholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.42%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. Iron Mountain’s payout ratio is presently 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 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 directly owns 17,866 shares of the company’s stock, 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.

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.