Capital Investment Advisors LLC Raises Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Capital Investment Advisors LLC raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 41.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,101 shares of the financial services provider’s stock after buying an additional 5,263 shares during the period. Capital Investment Advisors LLC’s holdings in Iron Mountain were worth $786,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IRM. Clearstead Advisors LLC increased its stake in shares of Iron Mountain by 532.3% during the 2nd quarter. Clearstead Advisors LLC now owns 607 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 511 shares in the last quarter. Liberty Wealth Management LLC grew its stake in Iron Mountain by 4,203.6% in the 2nd quarter. Liberty Wealth Management LLC now owns 1,205 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 1,177 shares during the period. Exchange Traded Concepts LLC grew its stake in Iron Mountain by 282.1% in the 2nd quarter. Exchange Traded Concepts LLC now owns 745 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 550 shares during the period. Bogart Wealth LLC purchased a new stake in Iron Mountain in the 2nd quarter worth approximately $36,000. Finally, Newbridge Financial Services Group Inc. grew its stake in Iron Mountain by 47.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 859 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 275 shares during the period. 78.22% of the stock is owned by institutional investors and hedge funds.

Shares of IRM stock opened at $47.47 on Thursday. Iron Mountain Incorporated has a 12 month low of $26.24 and a 12 month high of $49.58. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $13.74 billion, a P/E ratio of 21.58 and a beta of 0.78. The company’s fifty day moving average price is $45.57 and its two-hundred day moving average price is $44.99.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, November 4th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.30). Iron Mountain had a return on equity of 53.63% and a net margin of 14.48%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 2.78 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 6th. Stockholders of record on Wednesday, December 15th will be given a $0.6185 dividend. The ex-dividend date is Tuesday, December 14th. This represents a $2.47 annualized dividend and a dividend yield of 5.21%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.62. Iron Mountain’s payout ratio is presently 112.27%.

In other Iron Mountain news, CAO Daniel Borges sold 1,860 shares of the company’s stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $48.20, for a total value of $89,652.00. Following the transaction, the chief accounting officer now owns 1,860 shares in the company, valued at approximately $89,652. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO John Tomovcsik sold 29,037 shares of the stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $48.72, for a total transaction of $1,414,682.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,914 shares of company stock valued at $1,552,078. Insiders own 2.10% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, August 10th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $36.75.

Iron Mountain Profile

Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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