Royal Fund Management LLC Grows Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Royal Fund Management LLC increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 88.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,026 shares of the financial services provider’s stock after purchasing an additional 12,186 shares during the quarter. Royal Fund Management LLC’s holdings in Iron Mountain were worth $3,097,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in IRM. Elo Mutual Pension Insurance Co increased its position in Iron Mountain by 4.3% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 25,481 shares of the financial services provider’s stock valued at $1,783,000 after acquiring an additional 1,048 shares during the last quarter. XML Financial LLC bought a new position in shares of Iron Mountain in the 4th quarter worth approximately $215,000. Nomura Holdings Inc. purchased a new position in shares of Iron Mountain in the fourth quarter worth approximately $3,626,000. Power Corp of Canada bought a new stake in Iron Mountain during the fourth quarter valued at approximately $239,000. Finally, Cohen & Steers Inc. increased its holdings 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 buying an additional 15,035,937 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other news, COO John Tomovcsik sold 2,866 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $105.00, for a total transaction of $300,930.00. Following the transaction, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction dated 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 sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John Tomovcsik sold 2,866 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $105.00, for a total transaction of $300,930.00. Following the transaction, the chief operating officer now owns 15,000 shares in the company, valued at approximately $1,575,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,128 shares of company stock valued at $1,898,415 in the last quarter. 2.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Iron Mountain Price Performance

Shares of IRM traded up $0.57 during midday trading on Wednesday, hitting $119.41. 62,924 shares of the company traded hands, compared to its average volume of 1,614,538. The stock has a market cap of $35.00 billion, a price-to-earnings ratio of 180.06, a PEG ratio of 7.09 and a beta of 1.00. The firm has a 50 day moving average of $112.92 and a 200-day moving average of $94.54. 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 $57.36 and a 52 week high of $120.54.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company earned $0.94 EPS. Iron Mountain’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, analysts forecast 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. Stockholders of record on Monday, September 16th were paid a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.40%. Iron Mountain’s dividend payout ratio is currently 433.33%.

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.