10,724 Iron Mountain Incorporated $IRM Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its position in Iron Mountain Incorporated (NYSE:IRM) by 10.7% in the third quarter, Holdings Channel.com reports. The fund owned 110,823 shares of the financial services provider’s stock after purchasing an additional 10,724 shares during the period. Kestra Advisory Services LLC’s holdings in Iron Mountain were worth $12,296,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Claro Advisors Inc. increased its holdings in shares of Iron Mountain by 1.2% in the 3rd quarter. Claro Advisors Inc. now owns 16,970 shares of the financial services provider’s stock worth $1,883,000 after purchasing an additional 199 shares in the last quarter. Platform Technology Partners lifted its holdings in shares of Iron Mountain by 29.3% during the third quarter. Platform Technology Partners now owns 2,810 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 637 shares in the last quarter. Inscription Capital LLC bought a new position in shares of Iron Mountain during the third quarter valued at $335,000. Northeast Investment Management purchased a new stake in shares of Iron Mountain during the third quarter valued at $203,000. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Iron Mountain by 37.2% during the third quarter. Chicago Partners Investment Group LLC now owns 17,141 shares of the financial services provider’s stock valued at $1,885,000 after buying an additional 4,652 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $110.92 on Tuesday. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The company’s fifty day simple moving average is $113.62 and its 200-day simple moving average is $115.47. The stock has a market capitalization of $33.02 billion, a PE ratio of 72.49 and a beta of 1.18.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, November 5th. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%. Iron Mountain’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $1.32 EPS. As a group, research analysts anticipate that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Tuesday, December 15th will be paid a $0.9930 dividend. This represents a $3.97 annualized dividend and a dividend yield of 3.6%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.8640. The ex-dividend date of this dividend is Tuesday, December 15th. Iron Mountain’s dividend payout ratio is 226.14%.

Insider Activity

In related news, CEO William Meaney sold 38,474 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $114.08, for a total transaction of $4,389,113.92. Following the completion of the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,389,113.92. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total transaction of $693,600.00. Following the completion of the sale, the executive vice president directly owned 95,507 shares of the company’s stock, valued at $11,040,609.20. This represents a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 136,422 shares of company stock valued at $15,116,038 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IRM shares. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $147.00 to $124.00 and set an “overweight” rating for the company in a report on Friday. Rothschild & Co Redburn began coverage on shares of Iron Mountain in a research note on Monday, September 21st. They set a “buy” rating and a $132.00 target price on the stock. Wall Street Zen downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. BNP Paribas Exane raised their price target on shares of Iron Mountain from $138.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, Wells Fargo & Company lifted their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.33.

Iron Mountain Profile

Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions.

The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.

Founded in 1951, Iron Mountain began as a records-storage business in a former iron ore mine in New York.