TFG Advisers LLC Purchases 731 Shares of Iron Mountain Incorporated (NYSE:IRM)

TFG Advisers LLC raised its position in Iron Mountain Incorporated (NYSE:IRM) by 3.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 24,263 shares of the financial services provider’s stock after acquiring an additional 731 shares during the period. Iron Mountain makes up about 1.0% of TFG Advisers LLC’s holdings, making the stock its 25th largest position. TFG Advisers LLC’s holdings in Iron Mountain were worth $2,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain in the 2nd quarter valued at $32,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain during the third quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the second quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in shares of Iron Mountain in the 1st quarter worth about $38,000. Finally, Family Firm Inc. bought a new position in Iron Mountain in the 2nd quarter valued at about $45,000. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Barclays lifted their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target 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. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Activity at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Edward Baker-Greene sold 2,262 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,503 shares of company stock worth $3,511,505. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Performance

IRM traded up $1.23 during trading on Wednesday, hitting $125.10. 92,724 shares of the company traded hands, compared to its average volume of 1,590,936. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $125.81. The stock’s fifty day moving average is $116.05 and its 200 day moving average is $97.59. The firm has a market cap of $36.67 billion, a P/E ratio of 187.68, a price-to-earnings-growth ratio of 7.22 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last released 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). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were given a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.29%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is 433.33%.

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.