Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 354,082 shares of the financial services provider’s stock after buying an additional 5,284 shares during the period. Raymond James & Associates owned approximately 0.12% of Iron Mountain worth $31,733,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain during the second quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain during the second quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in Iron Mountain in the 1st quarter valued at approximately $38,000. Transcendent Capital Group LLC bought a new position in shares of Iron Mountain in the fourth quarter valued at approximately $36,000. Finally, Heritage Wealth Advisors acquired a new position in shares of Iron Mountain during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, COO John Tomovcsik sold 2,866 shares of Iron Mountain stock in a transaction that occurred 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 of the company’s stock, valued at $1,575,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $91.59, for a total value of $1,453,991.25. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO John Tomovcsik sold 2,866 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,575,000. The disclosure for this sale can be found here. In the last three months, insiders sold 96,372 shares of company stock valued at $8,516,435. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on IRM. JPMorgan Chase & Co. boosted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised their price target on Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. The Goldman Sachs Group upped their price target on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.29.

Iron Mountain Trading Down 0.1 %

Shares of NYSE IRM opened at $109.50 on Wednesday. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $112.79. The stock has a market cap of $32.10 billion, a price-to-earnings ratio of 165.91, a P/E/G ratio of 6.49 and a beta of 0.98. The company has a quick ratio of 0.86, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The company’s fifty day moving average is $97.57 and its 200-day moving average is $84.58.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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 return on equity of 595.44% and a net margin of 3.94%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $0.94 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts predict that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be given a $0.715 dividend. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a dividend yield of 2.61%. Iron Mountain’s payout ratio is currently 433.33%.

Iron Mountain 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.