International Assets Investment Management LLC Has $53.31 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

International Assets Investment Management LLC raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 12,953.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 448,644 shares of the financial services provider’s stock after acquiring an additional 445,207 shares during the quarter. International Assets Investment Management LLC owned approximately 0.15% of Iron Mountain worth $53,312,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Raleigh Capital Management Inc. boosted its position in Iron Mountain by 2.6% in the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock valued at $511,000 after buying an additional 107 shares in the last quarter. Csenge Advisory Group boosted its holdings in shares of Iron Mountain by 1.2% during the 2nd quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock valued at $853,000 after acquiring an additional 114 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Iron Mountain by 2.8% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 117 shares during the last quarter. Perfromance Wealth Partners LLC increased its holdings in Iron Mountain by 2.4% in the 2nd quarter. Perfromance Wealth Partners LLC now owns 5,007 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 118 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Iron Mountain by 9.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 120 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $127.70 on Monday. Iron Mountain Incorporated has a twelve month low of $57.36 and a twelve month high of $130.24. The firm has a market capitalization of $37.46 billion, a PE ratio of 163.72, a P/E/G ratio of 7.42 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The company has a 50-day moving average price of $117.12 and a two-hundred day moving average price of $98.61.

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 analysts’ consensus estimates of $1.01 by ($0.59). The company had revenue of $1.53 billion for 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 quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. Equities analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current 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 paid a $0.715 dividend. 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 yield of 2.24%. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio is currently 366.67%.

Insider Buying and Selling

In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total transaction of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John Tomovcsik sold 1,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at approximately $1,540,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,503 shares of company stock worth $3,511,505. Insiders own 2.10% of the company’s stock.

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.