Canandaigua National Bank & Trust Co. Buys Shares of 2,150 Iron Mountain Incorporated (NYSE:IRM)

Canandaigua National Bank & Trust Co. acquired a new position in Iron Mountain Incorporated (NYSE:IRM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,150 shares of the financial services provider’s stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cohen & Steers Inc. lifted its position in Iron Mountain by 202.1% during the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after purchasing an additional 15,035,937 shares during the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after acquiring an additional 1,286,694 shares during the last quarter. AGF Management Ltd. lifted its holdings in shares of Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock worth $201,232,000 after acquiring an additional 972,101 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Iron Mountain by 278.3% in the 4th quarter. Sei Investments Co. now owns 875,092 shares of the financial services provider’s stock worth $61,239,000 after acquiring an additional 643,760 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Iron Mountain stock opened at $118.28 on Friday. Iron Mountain Incorporated has a 52-week low of $56.51 and a 52-week high of $120.54. The firm has a market capitalization of $34.67 billion, a price-to-earnings ratio of 179.21, a PEG ratio of 7.09 and a beta of 1.00. The company has a fifty day simple moving average of $112.22 and a 200-day simple moving average of $93.92. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

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 analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. On average, equities analysts anticipate 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 was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a $0.715 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.42%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Insider Transactions at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Edward Baker-Greene sold 2,262 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the transaction, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Wendy J. Murdock sold 8,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value 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 approximately $1,725,799.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,003 shares of company stock valued at $3,352,406 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company raised 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 lifted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

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.