Chicago Capital LLC Has $12.25 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Chicago Capital LLC boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 21.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 103,053 shares of the financial services provider’s stock after purchasing an additional 17,961 shares during the period. Chicago Capital LLC’s holdings in Iron Mountain were worth $12,246,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IRM. Friedenthal Financial acquired a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $824,000. Blue Trust Inc. lifted its stake in Iron Mountain by 142.4% during the third quarter. Blue Trust Inc. now owns 2,138 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 1,256 shares during the last quarter. Vert Asset Management LLC boosted its holdings in shares of Iron Mountain by 1.9% in the 3rd quarter. Vert Asset Management LLC now owns 119,937 shares of the financial services provider’s stock valued at $14,252,000 after purchasing an additional 2,273 shares in the last quarter. Claro Advisors LLC increased its stake in shares of Iron Mountain by 47.4% in the 3rd quarter. Claro Advisors LLC now owns 24,492 shares of the financial services provider’s stock valued at $2,910,000 after purchasing an additional 7,878 shares during the last quarter. Finally, CHB Investment Group LLC acquired a new position in shares of Iron Mountain during the 3rd quarter worth $3,496,000. 80.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IRM. 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. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday. The Goldman Sachs Group increased their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays boosted their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $125.76 on Friday. The firm has a market cap of $36.86 billion, a PE ratio of 190.55, a price-to-earnings-growth ratio of 7.22 and a beta of 1.00. Iron Mountain Incorporated has a 52 week low of $57.36 and a 52 week high of $125.81. The firm’s fifty day moving average is $115.43 and its 200-day moving average is $96.83. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79.

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 analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm posted $0.94 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Sell-side analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.27%. Iron Mountain’s dividend payout ratio is 433.33%.

Insider Buying and Selling

In other Iron Mountain news, COO John Tomovcsik sold 2,866 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $105.00, for a total transaction of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares in the company, valued at approximately $1,575,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Edward Baker-Greene sold 2,262 shares of the business’s 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 transaction, the executive vice president now owns 9,049 shares in the company, valued at $993,127.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Tomovcsik sold 2,866 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total transaction of $300,930.00. Following the completion of the sale, the chief operating officer now owns 15,000 shares of the company’s stock, valued at $1,575,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,503 shares of company stock valued at $3,511,505 over the last quarter. 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.