Cooper Financial Group Grows Stock Position in Iron Mountain Incorporated $IRM

Cooper Financial Group increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,155 shares of the financial services provider’s stock after buying an additional 113 shares during the quarter. Cooper Financial Group’s holdings in Iron Mountain were worth $324,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Iron Mountain by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider’s stock valued at $4,028,886,000 after buying an additional 220,564 shares during the period. Dimensional Fund Advisors LP raised its position in Iron Mountain by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock valued at $366,210,000 after purchasing an additional 37,154 shares during the period. Invesco Ltd. raised its position in Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock valued at $245,124,000 after purchasing an additional 366,134 shares during the period. Nuveen LLC purchased a new stake in Iron Mountain in the first quarter valued at approximately $192,231,000. Finally, JPMorgan Chase & Co. raised its position in Iron Mountain by 17.8% in the first quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider’s stock valued at $177,377,000 after purchasing an additional 311,494 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research analyst reports. Barclays boosted their target price on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. cut their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Jefferies Financial Group initiated coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Buy” and an average price target of $116.83.

Iron Mountain Trading Up 1.1%

Iron Mountain stock opened at $103.36 on Friday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The stock’s fifty day simple moving average is $95.61 and its 200-day simple moving average is $94.69. The firm has a market capitalization of $30.53 billion, a P/E ratio of 738.34 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company earned $1.08 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain’s dividend payout ratio is 2,242.86%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total value of $6,190,835.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the transaction, the executive vice president directly owned 79,081 shares in the company, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,250 shares of company stock valued at $13,272,904 over the last quarter. 1.90% of the stock is owned by insiders.

Iron Mountain 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.