American Investment Services Inc. Buys Shares of 3,103 Iron Mountain Incorporated (NYSE:IRM)

American Investment Services Inc. purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,103 shares of the financial services provider’s stock, valued at approximately $278,000.

A number of other institutional investors have also modified their holdings of IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Iron Mountain in the 2nd quarter valued at approximately $32,000. Transcendent Capital Group LLC acquired a new position in Iron Mountain during the 4th quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iron Mountain during the 2nd quarter worth about $36,000. Heritage Wealth Advisors acquired a new stake in Iron Mountain in the 4th quarter valued at about $38,000. Finally, Headlands Technologies LLC purchased a new position in shares of Iron Mountain in the 1st quarter valued at about $38,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $115.36 on Monday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $118.46. The firm has a market capitalization of $33.82 billion, a P/E ratio of 174.79, a P/E/G ratio of 6.85 and a beta of 1.00. The company’s fifty day moving average price is $108.27 and its 200 day moving average price is $91.31.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.59). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.94 earnings per share. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.48%. Iron Mountain’s dividend payout ratio (DPR) is 433.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IRM. Stifel Nicolaus raised their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. 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. Wells Fargo & Company increased their target price on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

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.