Friedenthal Financial Purchases Shares of 6,931 Iron Mountain Incorporated (NYSE:IRM)

Friedenthal Financial acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,931 shares of the financial services provider’s stock, valued at approximately $824,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain during the 2nd quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain in the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC bought a new stake in Iron Mountain in the 1st quarter valued at approximately $38,000. Family Firm Inc. acquired a new position in Iron Mountain during the 2nd quarter worth approximately $45,000. Finally, Tobam bought a new position in shares of Iron Mountain during the 3rd quarter worth approximately $81,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Up 1.0 %

IRM opened at $125.76 on Friday. The stock’s fifty day simple moving average is $115.43 and its 200 day simple moving average is $96.71. Iron Mountain Incorporated has a 1-year low of $57.36 and a 1-year high of $125.81. The stock has a market cap of $36.86 billion, a PE ratio of 190.52, a price-to-earnings-growth ratio of 7.22 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business posted $0.94 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, research analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Tomovcsik sold 2,866 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was 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 in the company, valued at approximately $1,575,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,503 shares of company stock worth $3,511,505 in the last ninety days. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on IRM. Stifel Nicolaus increased their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Barclays raised their price objective on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Iron Mountain Company 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.