826 Shares in Iron Mountain Incorporated (NYSE:IRM) Bought by ORG Wealth Partners LLC

ORG Wealth Partners LLC bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 826 shares of the financial services provider’s stock, valued at approximately $98,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its position in Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after buying an additional 475,849 shares in the last quarter. Legal & General Group Plc increased its position in Iron Mountain by 49.2% during the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock valued at $349,453,000 after buying an additional 1,286,694 shares in the last quarter. AGF Management Ltd. increased its position in Iron Mountain by 76.3% during the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after buying an additional 972,101 shares in the last quarter. Bank of New York Mellon Corp increased its position in Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after buying an additional 6,562 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its position in Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock valued at $119,263,000 after buying an additional 1,519,237 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Iron Mountain news, COO John Tomovcsik sold 2,866 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 15,000 shares in the company, valued at approximately $1,575,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO John Tomovcsik sold 2,866 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total value of $300,930.00. Following the transaction, the chief operating officer now owns 15,000 shares in the company, valued at $1,575,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,503 shares of company stock worth $3,511,505. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IRM. Stifel Nicolaus increased 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. Barclays increased their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company increased their price objective on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.00.

Iron Mountain Stock Up 0.7 %

Iron Mountain stock opened at $121.20 on Tuesday. The firm has a market cap of $35.53 billion, a price-to-earnings ratio of 183.64, 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 $121.32. The business’s 50-day moving average price is $114.07 and its 200 day moving average price is $95.70. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 595.44% and a net margin of 3.94%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were given a dividend of $0.715 per share. The ex-dividend date was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.36%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 433.33%.

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.