Iron Mountain Incorporated $IRM Shares Acquired by Ranch Capital Advisors Inc.

Ranch Capital Advisors Inc. grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,247 shares of the financial services provider’s stock after acquiring an additional 1,048 shares during the quarter. Iron Mountain comprises approximately 1.6% of Ranch Capital Advisors Inc.’s investment portfolio, making the stock its 18th biggest position. Ranch Capital Advisors Inc.’s holdings in Iron Mountain were worth $3,636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Iron Mountain by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider’s stock valued at $4,028,886,000 after buying an additional 220,564 shares during the period. Dimensional Fund Advisors LP grew its holdings in Iron Mountain by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock worth $366,210,000 after acquiring an additional 37,154 shares during the period. Invesco Ltd. grew its holdings in Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock valued at $245,124,000 after purchasing an additional 366,134 shares during the last quarter. Nuveen LLC acquired a new stake in Iron Mountain in the first quarter valued at $192,231,000. Finally, JPMorgan Chase & Co. grew its holdings in Iron Mountain by 17.8% in the first quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider’s stock valued at $177,377,000 after purchasing an additional 311,494 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale can be found here. Insiders sold a total of 213,375 shares of company stock worth $20,347,156 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

Iron Mountain stock opened at $105.34 on Friday. The stock’s 50-day moving average is $98.96 and its 200-day moving average is $96.84. The company has a market cap of $31.11 billion, a price-to-earnings ratio of 752.50 and a beta of 1.06. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24.

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

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. reduced their price objective 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. Jefferies Financial Group assumed coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. Barclays upped their price objective on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

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.