Axecap Investments LLC Purchases New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Axecap Investments LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,634 shares of the financial services provider’s stock, valued at approximately $1,026,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRM. Ballentine Partners LLC boosted its holdings in Iron Mountain by 18.3% in the first quarter. Ballentine Partners LLC now owns 4,077 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 631 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Iron Mountain by 177.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 12,789 shares of the financial services provider’s stock valued at $1,026,000 after purchasing an additional 8,184 shares during the last quarter. Chesley Taft & Associates LLC lifted its holdings in Iron Mountain by 1.0% during the 1st quarter. Chesley Taft & Associates LLC now owns 14,650 shares of the financial services provider’s stock worth $1,175,000 after buying an additional 150 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Iron Mountain by 13.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 63,269 shares of the financial services provider’s stock worth $5,075,000 after buying an additional 7,282 shares during the last quarter. Finally, Cornerstone Wealth Group LLC bought a new position in Iron Mountain during the 1st quarter worth approximately $306,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

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

Analysts Set New Price Targets

IRM has been the topic of a number of research analyst reports. Barclays increased their target price on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased 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. Stifel Nicolaus increased 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. Finally, Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Iron Mountain Stock Up 1.3 %

Shares of Iron Mountain stock opened at $125.54 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The business’s 50 day simple moving average is $116.38 and its 200-day simple moving average is $97.78. The stock has a market capitalization of $36.80 billion, a price-to-earnings ratio of 190.21, a PEG ratio of 7.22 and a beta of 1.00. Iron Mountain Incorporated has a twelve month low of $57.36 and a twelve month high of $126.55.

Iron Mountain (NYSE:IRM) last posted its 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). 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 during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors 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. This represents a $2.86 annualized dividend and a yield of 2.28%. The ex-dividend date was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 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.