Sunbelt Securities Inc. Makes New $244,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Sunbelt Securities Inc. acquired a new stake in Iron Mountain Incorporated (NYSE:IRM – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,550 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Iron Mountain by 132.0% during the third quarter. Allworth Financial LP now owns 775 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 441 shares during the last quarter. First Personal Financial Services acquired a new position in shares of Iron Mountain during the 3rd quarter valued at about $35,000. Cambridge Trust Co. purchased a new position in shares of Iron Mountain during the 2nd quarter worth about $36,000. Wipfli Financial Advisors LLC acquired a new stake in shares of Iron Mountain in the third quarter worth approximately $42,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Iron Mountain by 440.1% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 625 shares during the period. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IRM shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price target on shares of Iron Mountain in a report on Monday, March 6th. StockNews.com began coverage on Iron Mountain in a report on Thursday. They issued a “hold” rating on the stock. Exane BNP Paribas began coverage on Iron Mountain in a report on Wednesday, December 14th. They issued an “outperform” rating on the stock. Finally, BNP Paribas began coverage on Iron Mountain in a research note on Wednesday, December 14th. They issued an “outperform” rating and a $66.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $60.80.

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $53.72, for a total transaction of $60,435.00. Following the sale, the executive vice president now owns 63,151 shares of the company’s stock, valued at approximately $3,392,471.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William L. Meaney sold 17,766 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $52.43, for a total transaction of $931,471.38. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $15,500,929.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $53.72, for a total transaction of $60,435.00. Following the completion of the sale, the executive vice president now owns 63,151 shares of the company’s stock, valued at approximately $3,392,471.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,059 shares of company stock valued at $5,502,935. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Down 3.4 %

Shares of NYSE IRM opened at $50.29 on Friday. The stock has a fifty day moving average price of $52.92 and a 200 day moving average price of $51.43. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 16.46. Iron Mountain Incorporated has a 12-month low of $43.33 and a 12-month high of $58.61. The company has a market cap of $14.63 billion, a P/E ratio of 26.47, a P/E/G ratio of 3.59 and a beta of 0.89.

Iron Mountain (NYSE:IRM – Get Rating) last posted its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.46). The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. Iron Mountain had a net margin of 10.91% and a return on equity of 79.49%. Iron Mountain’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Research analysts anticipate that Iron Mountain Incorporated will post 3.64 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.6185 per share. The ex-dividend date is Tuesday, March 14th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.92%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.62. Iron Mountain’s dividend payout ratio (DPR) is currently 130.00%.

Iron Mountain Profile

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.