Tectonic Advisors LLC Boosts Position in Iron Mountain Incorporated (NYSE:IRM)

Tectonic Advisors LLC raised its position in Iron Mountain Incorporated (NYSE:IRM) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,904 shares of the financial services provider’s stock after acquiring an additional 2,242 shares during the quarter. Iron Mountain accounts for about 0.7% of Tectonic Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Tectonic Advisors LLC’s holdings in Iron Mountain were worth $11,396,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Iron Mountain in the second quarter valued at approximately $32,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain during the third quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iron Mountain during the second quarter worth approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of Iron Mountain during the first quarter worth approximately $38,000. Finally, Family Firm Inc. acquired a new stake in shares of Iron Mountain during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

IRM has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. 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 report on Thursday, October 17th. Stifel Nicolaus lifted their price objective 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. Finally, The Goldman Sachs Group lifted their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, 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 sale, the chief executive officer now directly owns 295,650 shares in the company, 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 SEC, which can be accessed through this link. In related news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the sale, the director now directly owns 14,829 shares in the company, valued at $1,725,799.02. The trade was 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 available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,503 shares of company stock worth $3,511,505. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Performance

Iron Mountain stock opened at $125.97 on Friday. The company has a market cap of $36.93 billion, a PE ratio of 190.86, a P/E/G ratio of 7.22 and a beta of 1.00. The company has a fifty day moving average price of $116.73 and a two-hundred day moving average price of $97.98. 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 Incorporated has a 12 month low of $57.36 and a 12 month high of $127.05.

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). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. Research analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

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

About Iron Mountain

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.