Ignite Planners LLC Buys Shares of 2,098 Iron Mountain Incorporated $IRM

Ignite Planners LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, Holdings Channel.com reports. The firm bought 2,098 shares of the financial services provider’s stock, valued at approximately $209,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC acquired a new stake in Iron Mountain in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC acquired a new stake in Iron Mountain in the first quarter valued at approximately $30,000. Ramirez Asset Management Inc. acquired a new position in shares of Iron Mountain during the first quarter worth $34,000. Wayfinding Financial LLC acquired a new position in shares of Iron Mountain during the first quarter worth $37,000. Finally, Richards Merrill & Peterson Inc. acquired a new position in shares of Iron Mountain during the first quarter worth $43,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of Iron Mountain 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 sale, the executive vice president directly owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,375 shares of company stock valued at $20,347,156. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Stock Down 0.4%

Shares of NYSE IRM opened at $105.00 on Friday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The firm has a fifty day simple moving average of $96.33 and a 200 day simple moving average of $95.28. The company has a market capitalization of $31.01 billion, a PE ratio of 750.05 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its earnings results 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 net margin of 0.66% and a negative return on equity of 146.80%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm earned $1.08 earnings per share. Iron Mountain’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target on the stock. Finally, Barclays lifted their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and a consensus price target of $116.83.

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.