Lynx Investment Advisory Invests $74,000 in Iron Mountain Incorporated (NYSE:IRM)

Lynx Investment Advisory bought a new position in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 824 shares of the financial services provider’s stock, valued at approximately $74,000.

A number of other large investors have also recently made changes to their positions in the business. Mather Group LLC. boosted its stake in shares of Iron Mountain by 68.5% during the 2nd quarter. Mather Group LLC. now owns 4,014 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 1,632 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Iron Mountain during the 2nd quarter worth about $36,000. DNB Asset Management AS boosted its stake in shares of Iron Mountain by 8.5% during the 2nd quarter. DNB Asset Management AS now owns 48,923 shares of the financial services provider’s stock worth $4,384,000 after purchasing an additional 3,822 shares during the period. Moody National Bank Trust Division boosted its stake in shares of Iron Mountain by 3.3% during the 2nd quarter. Moody National Bank Trust Division now owns 19,329 shares of the financial services provider’s stock worth $1,732,000 after purchasing an additional 626 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new position in shares of Iron Mountain during the 2nd quarter worth about $640,000. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IRM has been the subject of several research reports. Stifel Nicolaus boosted their price objective on shares of 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 boosted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company boosted 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 given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.29.

Iron Mountain Stock Up 1.5 %

Shares of NYSE IRM traded up $1.64 during trading hours on Wednesday, hitting $108.09. 693,487 shares of the stock were exchanged, compared to its average volume of 1,666,505. 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 has a market cap of $31.68 billion, a PE ratio of 161.26, a PEG ratio of 6.49 and a beta of 0.98. The firm has a fifty day moving average price of $92.47 and a 200-day moving average price of $81.74. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $112.79.

Iron Mountain (NYSE:IRM) last posted 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). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS. On average, sell-side analysts expect that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.65%. 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. Iron Mountain’s payout ratio is 433.33%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $23,956,519.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO John Tomovcsik sold 2,866 shares of the company’s stock in a transaction 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 sale, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $1,575,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $23,956,519.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,372 shares of company stock worth $8,516,435. 2.10% of the stock is owned by corporate insiders.

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.