Courier Capital LLC Acquires 2,026 Shares of Iron Mountain Incorporated (NYSE:IRM)

Courier Capital LLC increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,729 shares of the financial services provider’s stock after purchasing an additional 2,026 shares during the quarter. Courier Capital LLC’s holdings in Iron Mountain were worth $4,721,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $32,000. West Branch Capital LLC bought a new position in shares of Iron Mountain during the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in shares of Iron Mountain during the 1st quarter worth approximately $38,000. Finally, Family Firm Inc. bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $45,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Iron Mountain stock traded up $2.64 during mid-day trading on Wednesday, hitting $126.51. 328,677 shares of the company’s stock traded hands, compared to its average volume of 1,592,087. The firm has a 50 day simple moving average of $116.05 and a two-hundred day simple moving average of $97.59. Iron Mountain Incorporated has a fifty-two week low of $57.36 and a fifty-two week high of $126.55. The stock has a market cap of $37.08 billion, a price-to-earnings ratio of 187.68, a P/E/G ratio of 7.22 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share 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 firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $0.94 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, research analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain 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 completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value of $989,230.00. Following the transaction, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,503 shares of company stock valued at $3,511,505. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IRM has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus raised their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. The Goldman Sachs Group raised their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays raised their target price on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average 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.