Stiles Financial Services Inc Purchases New Stake in Iron Mountain Incorporated $IRM

Stiles Financial Services Inc bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,127 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other hedge funds have also recently added to or reduced their stakes in IRM. Farther Finance Advisors LLC raised its position in shares of Iron Mountain by 4.0% during the first quarter. Farther Finance Advisors LLC now owns 4,773 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 185 shares during the period. SG Americas Securities LLC raised its position in Iron Mountain by 1,116.0% in the 1st quarter. SG Americas Securities LLC now owns 60,265 shares of the financial services provider’s stock valued at $5,185,000 after buying an additional 55,309 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Iron Mountain by 3.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider’s stock valued at $993,000 after buying an additional 388 shares during the last quarter. American Institute for Advanced Investment Management LLP raised its position in Iron Mountain by 6.6% in the 1st quarter. American Institute for Advanced Investment Management LLP now owns 10,870 shares of the financial services provider’s stock valued at $935,000 after buying an additional 670 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in Iron Mountain by 25.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,075 shares of the financial services provider’s stock valued at $265,000 after buying an additional 619 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Down 2.8%

NYSE:IRM opened at $101.98 on Friday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The stock’s 50 day moving average price is $96.49 and its two-hundred day moving average price is $95.38. The firm has a market capitalization of $30.12 billion, a price-to-earnings ratio of 728.48 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts anticipate 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. Stockholders of record on Monday, September 15th were paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, September 15th. Iron Mountain’s payout ratio is currently 2,242.86%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. In the last three months, insiders sold 213,375 shares of company stock worth $20,347,156. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays lifted their target price on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Jefferies Financial Group initiated coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “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.