City Center Advisors LLC Takes Position in Iron Mountain Incorporated (NYSE:IRM)

City Center Advisors LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,882 shares of the financial services provider’s stock, valued at approximately $224,000.

Several other hedge funds also recently modified their holdings of IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain during the second quarter worth about $32,000. Transcendent Capital Group LLC bought a new position in Iron Mountain during the fourth quarter worth about $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iron Mountain during the second quarter worth about $36,000. Headlands Technologies LLC bought a new position in Iron Mountain during the first quarter worth about $38,000. Finally, Family Firm Inc. bought a new position in Iron Mountain during the second quarter worth about $45,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.8 %

Shares of IRM opened at $118.84 on Wednesday. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $120.54. The company has a market cap of $34.84 billion, a P/E ratio of 180.06, a P/E/G ratio of 7.09 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a 50 day simple moving average of $112.92 and a two-hundred day simple moving average of $94.54.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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). The firm had revenue of $1.53 billion for 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 firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Research analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is presently 433.33%.

Insiders Place Their Bets

In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of the business’s 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 sale, the director now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the sale, the chief operating officer now owns 15,000 shares in the company, valued at $1,575,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated 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 sale, the director now owns 14,829 shares in the company, valued at $1,725,799.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,128 shares of company stock valued at $1,898,415. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on IRM shares. Wells Fargo & Company lifted their price target on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised 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 target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.