Creekmur Asset Management LLC Has $1.61 Million Holdings in Iron Mountain Incorporated $IRM

Creekmur Asset Management LLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 31.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,645 shares of the financial services provider’s stock after purchasing an additional 3,725 shares during the period. Creekmur Asset Management LLC’s holdings in Iron Mountain were worth $1,605,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC bought a new position in Iron Mountain during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC bought a new position in Iron Mountain during the 1st quarter worth approximately $30,000. Ramirez Asset Management Inc. acquired a new position in Iron Mountain in the first quarter valued at $34,000. Wayfinding Financial LLC acquired a new position in Iron Mountain in the first quarter valued at $37,000. Finally, Richards Merrill & Peterson Inc. acquired a new position in Iron Mountain in the first quarter valued at $43,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

IRM stock opened at $101.25 on Friday. The stock’s 50 day simple moving average is $99.94 and its 200 day simple moving average is $97.53. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $127.29. The company has a market cap of $29.90 billion, a P/E ratio of 723.26 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm posted $1.08 EPS. Iron Mountain’s revenue was up 11.6% compared to the same quarter last year. Equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Monday, September 15th. Iron Mountain’s dividend payout ratio is currently 2,242.86%.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the sale, the executive vice president owned 79,081 shares in the company, valued at $7,200,325.05. This represents a 7.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The SEC filing for this sale provides additional information. Insiders sold a total of 144,250 shares of company stock worth $13,811,388 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IRM has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Barclays boosted their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $116.83.

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.