Independence Bank of Kentucky Purchases 10,905 Shares of Iron Mountain Incorporated (NYSE:IRM)

Independence Bank of Kentucky lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1,205.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,810 shares of the financial services provider’s stock after purchasing an additional 10,905 shares during the quarter. Independence Bank of Kentucky’s holdings in Iron Mountain were worth $1,403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Iron Mountain during the second quarter valued at $32,000. Transcendent Capital Group LLC purchased a new stake in Iron Mountain during the fourth quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iron Mountain during the second quarter valued at $36,000. Headlands Technologies LLC purchased a new stake in Iron Mountain during the first quarter valued at $38,000. Finally, Family Firm Inc. purchased a new stake in Iron Mountain during the second quarter valued at $45,000. 80.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on IRM. Wells Fargo & Company upped their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Barclays upped their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, 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. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $113.00.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the sale, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,003 shares of company stock valued at $3,761,505 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Up 0.7 %

NYSE IRM traded up $0.86 during midday trading on Friday, hitting $119.88. 42,195 shares of the company traded hands, compared to its average volume of 1,611,167. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $35.17 billion, a PE ratio of 152.59, a price-to-earnings-growth ratio of 7.22 and a beta of 1.00. The company’s 50-day simple moving average is $113.47 and its 200-day simple moving average is $94.89. Iron Mountain Incorporated has a 52 week low of $57.36 and a 52 week high of $120.70.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm’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 business earned $0.94 EPS. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were given a $0.715 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.39%. Iron Mountain’s dividend payout ratio (DPR) is presently 366.67%.

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.