Creative Planning Purchases 2,083 Shares of Iron Mountain Incorporated (NYSE:IRM)

Creative Planning raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,905 shares of the financial services provider’s stock after acquiring an additional 2,083 shares during the period. Creative Planning’s holdings in Iron Mountain were worth $11,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fisher Asset Management LLC acquired a new position in shares of Iron Mountain during the fourth quarter valued at $271,000. Ballentine Partners LLC increased its holdings in shares of Iron Mountain by 18.3% in the first quarter. Ballentine Partners LLC now owns 4,077 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 631 shares in the last quarter. RMR Wealth Builders bought a new stake in shares of Iron Mountain in the first quarter worth about $377,000. Wealthcare Advisory Partners LLC increased its holdings in shares of Iron Mountain by 177.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 12,789 shares of the financial services provider’s stock worth $1,026,000 after acquiring an additional 8,184 shares in the last quarter. Finally, Vert Asset Management LLC increased its holdings in shares of Iron Mountain by 3.1% in the first quarter. Vert Asset Management LLC now owns 121,903 shares of the financial services provider’s stock worth $9,778,000 after acquiring an additional 3,608 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s 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 transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,503 shares of company stock worth $3,511,505. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $123.87 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $57.36 and a 12 month high of $125.81. The stock has a 50 day moving average of $115.73 and a 200-day moving average of $97.27. The company has a market capitalization of $36.31 billion, a P/E ratio of 187.68, a P/E/G ratio of 7.22 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last issued 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 return on equity of 595.44% and a net margin of 3.94%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio is presently 433.33%.

Analysts Set New Price Targets

IRM has been the subject of several recent analyst reports. Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Barclays lifted their target price on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group lifted their target price on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.50.

Iron Mountain 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.