Symphony Financial Ltd. Co. Boosts Position in Iron Mountain Incorporated (NYSE:IRM)

Symphony Financial Ltd. Co. lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,569 shares of the financial services provider’s stock after acquiring an additional 1,128 shares during the period. Symphony Financial Ltd. Co.’s holdings in Iron Mountain were worth $2,077,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several brokerages have commented on IRM. Barclays increased their price target 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. The Goldman Sachs Group increased their price target 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. Stifel Nicolaus raised their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price 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. Finally, Wells Fargo & Company raised their target price 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. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $115.50.

Iron Mountain Stock Performance

Shares of IRM opened at $123.87 on Wednesday. Iron Mountain Incorporated has a 52-week low of $57.36 and a 52-week high of $125.81. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The firm has a market cap of $36.31 billion, a price-to-earnings ratio of 187.68, a PEG ratio of 7.22 and a beta of 1.00. The business’s 50 day moving average is $115.73 and its two-hundred day moving average is $97.27.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 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 the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. Iron Mountain’s quarterly revenue was up 13.0% compared to the same quarter last year. Analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed 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. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.31%. Iron Mountain’s dividend payout ratio is currently 433.33%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred 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 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 through the SEC website. In other Iron Mountain news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the transaction, the director now directly owns 14,829 shares in the company, valued at approximately $1,725,799.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated 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 transaction, 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. In the last quarter, insiders have sold 30,503 shares of company stock valued at $3,511,505. Insiders own 2.10% of the company’s stock.

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.