Hudson Valley Investment Advisors Inc. ADV Takes $640,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Hudson Valley Investment Advisors Inc. ADV acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the second quarter, Holdings Channel.com reports. The firm acquired 7,145 shares of the financial services provider’s stock, valued at approximately $640,000.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its position in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 242 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Iron Mountain during the fourth quarter worth approximately $36,000. Heritage Wealth Advisors purchased a new position in shares of Iron Mountain during the fourth quarter worth approximately $38,000. Headlands Technologies LLC purchased a new position in shares of Iron Mountain during the first quarter worth approximately $38,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of Iron Mountain by 48.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 618 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 201 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Activity at Iron Mountain

In related news, Director Walter C. Rakowich sold 954 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the sale, the director now directly owns 35,166 shares of the company’s stock, valued at approximately $2,860,050.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 transaction of $77,588.82. Following the sale, the director now owns 35,166 shares of the company’s stock, valued at approximately $2,860,050.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wendy J. Murdock sold 3,547 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $77.60, for a total transaction of $275,247.20. Following the sale, the director now directly owns 20,944 shares in the company, valued at approximately $1,625,254.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,919 shares of company stock valued at $8,791,683. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on IRM. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group lifted their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company lifted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.29.

Iron Mountain Stock Down 2.1 %

Shares of IRM stock traded down $2.28 during mid-day trading on Monday, reaching $104.41. 3,569,909 shares of the company’s stock traded hands, compared to its average volume of 1,669,976. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $112.79. The company has a market cap of $30.61 billion, a P/E ratio of 158.20, a P/E/G ratio of 6.49 and a beta of 0.98. The company has a quick ratio of 0.86, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The company’s 50-day moving average price is $91.93 and its 200-day moving average price is $81.46.

Iron Mountain (NYSE:IRM) last announced its 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm posted $0.94 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts expect that Iron Mountain Incorporated will post 4.22 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.74%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 16th. Iron Mountain’s dividend payout ratio is 433.33%.

About Iron Mountain

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.