2,422 Shares in Iron Mountain Incorporated (NYSE:IRM) Purchased by Fielder Capital Group LLC

Fielder Capital Group LLC acquired a new position in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, HoldingsChannel reports. The institutional investor acquired 2,422 shares of the financial services provider’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain in the 2nd quarter worth approximately $32,000. Transcendent Capital Group LLC bought a new stake in Iron Mountain in the fourth quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Iron Mountain in the second quarter worth $36,000. Heritage Wealth Advisors bought a new position in shares of Iron Mountain during the fourth quarter valued at $38,000. Finally, Headlands Technologies LLC purchased a new position in shares of Iron Mountain in the 1st quarter worth about $38,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $1.27 during midday trading on Friday, hitting $113.26. 2,391,197 shares of the stock traded hands, compared to its average volume of 1,624,505. The firm has a market capitalization of $33.22 billion, a P/E ratio of 171.61, a PEG ratio of 6.78 and a beta of 0.98. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $114.93. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a 50-day moving average of $101.52 and a two-hundred day moving average of $86.96.

Iron Mountain (NYSE:IRM) last released its quarterly 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). The business 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%. Iron Mountain’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. On average, equities 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 will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a $0.715 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 393.95%.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total value of $1,286,351.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $23,956,519.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total value of $1,286,351.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $23,956,519.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total value of $77,588.82. Following the sale, the director now directly owns 35,166 shares in the company, valued at $2,860,050.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,634 shares of company stock valued at $8,874,690. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on IRM. JPMorgan Chase & Co. raised their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. 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 research note on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

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.