Xponance Inc. Buys 39,442 Shares of Iron Mountain Incorporated (NYSE:IRM)

Xponance Inc. boosted its stake in Iron Mountain Incorporated (NYSE:IRM) by 69.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,057 shares of the financial services provider’s stock after acquiring an additional 39,442 shares during the period. Xponance Inc.’s holdings in Iron Mountain were worth $8,609,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain during the second quarter valued at $32,000. Transcendent Capital Group LLC purchased a new stake in Iron Mountain in the 4th quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Iron Mountain in the 2nd quarter valued at about $36,000. Heritage Wealth Advisors purchased a new stake in Iron Mountain during the fourth quarter valued at about $38,000. Finally, Headlands Technologies LLC purchased a new position in shares of Iron Mountain in the first quarter worth about $38,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 2.7 %

NYSE:IRM opened at $118.42 on Tuesday. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $118.74. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The company has a fifty day moving average of $108.68 and a 200 day moving average of $91.58. The firm has a market capitalization of $34.71 billion, a P/E ratio of 179.42, a P/E/G ratio of 6.85 and a beta of 1.00.

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 analysts’ consensus estimates of $1.01 by ($0.59). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. On average, research analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be given a dividend of $0.715 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.42%. Iron Mountain’s payout ratio is presently 433.33%.

Wall Street Analysts Forecast Growth

IRM has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price objective 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Insider Activity at Iron Mountain

In related news, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The sale was disclosed in a filing with the SEC, which is available through this link. In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,003 shares of company stock worth $3,352,406. 2.10% of the stock is owned by corporate insiders.

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.