Lido Advisors LLC Acquires Shares of 4,004 Iron Mountain Incorporated (NYSE:IRM)

Lido Advisors LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRMFree Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,004 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRM. Cohen & Steers Inc. raised its stake in Iron Mountain by 163.9% in the second quarter. Cohen & Steers Inc. now owns 7,725,767 shares of the financial services provider’s stock valued at $438,926,000 after buying an additional 4,798,010 shares during the period. Moneta Group Investment Advisors LLC bought a new stake in Iron Mountain in the fourth quarter valued at approximately $224,698,000. Norges Bank bought a new stake in Iron Mountain in the fourth quarter valued at approximately $97,752,000. Ameriprise Financial Inc. raised its stake in Iron Mountain by 214.7% in the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock valued at $103,744,000 after buying an additional 1,178,754 shares during the period. Finally, Invesco Ltd. raised its stake in Iron Mountain by 49.7% in the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock valued at $192,822,000 after buying an additional 1,077,339 shares during the period. Institutional investors own 76.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IRM. Wells Fargo & Company increased their target price on Iron Mountain from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Barclays increased their target price on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus increased their target price on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

View Our Latest Analysis on Iron Mountain

Iron Mountain Trading Up 0.2 %

Shares of NYSE:IRM opened at $80.86 on Wednesday. The business’s 50 day simple moving average is $70.32 and its 200 day simple moving average is $65.44. The company has a market capitalization of $23.63 billion, a P/E ratio of 128.35, a P/E/G ratio of 4.93 and a beta of 0.94. Iron Mountain Incorporated has a 1 year low of $48.94 and a 1 year high of $82.19. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78.

Iron Mountain (NYSE:IRMGet Free Report) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.13 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Friday, March 15th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Thursday, March 14th. Iron Mountain’s dividend payout ratio is presently 412.70%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 11,376 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $69.90, for a total value of $795,182.40. Following the sale, the executive vice president now owns 42,739 shares of the company’s stock, valued at approximately $2,987,456.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Mark Kidd sold 11,376 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $69.90, for a total transaction of $795,182.40. Following the sale, the executive vice president now owns 42,739 shares of the company’s stock, valued at approximately $2,987,456.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $78.90, for a total value of $9,150,743.10. Following the sale, the chief executive officer now directly owns 432,682 shares in the company, valued at approximately $34,138,609.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,983 shares of company stock valued at $13,030,171. 2.20% of the stock is currently owned by corporate insiders.

About Iron Mountain

(Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.

Further Reading

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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