Essex Financial Services Inc. Buys 632 Shares of Iron Mountain Incorporated (NYSE:IRM)

Essex Financial Services Inc. increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,487 shares of the financial services provider’s stock after buying an additional 632 shares during the period. Essex Financial Services Inc.’s holdings in Iron Mountain were worth $1,154,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IRM. Commonwealth Equity Services LLC grew its stake in Iron Mountain by 5.3% in the third quarter. Commonwealth Equity Services LLC now owns 198,302 shares of the financial services provider’s stock valued at $11,789,000 after purchasing an additional 10,063 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Iron Mountain by 12.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 131,061 shares of the financial services provider’s stock worth $7,792,000 after purchasing an additional 14,267 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in shares of Iron Mountain during the third quarter worth about $316,000. Xponance Inc. lifted its holdings in Iron Mountain by 7.0% in the third quarter. Xponance Inc. now owns 55,625 shares of the financial services provider’s stock valued at $3,307,000 after acquiring an additional 3,622 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its holdings in Iron Mountain by 24.0% in the third quarter. FinTrust Capital Advisors LLC now owns 1,240 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 240 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IRM shares. Stifel Nicolaus boosted their price target on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Wells Fargo & Company boosted their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Finally, Barclays boosted their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.80.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $78.07 on Thursday. Iron Mountain Incorporated has a 52 week low of $52.81 and a 52 week high of $82.19. The business’s fifty day simple moving average is $78.03 and its 200-day simple moving average is $69.72. The firm has a market cap of $22.88 billion, a PE ratio of 123.92, a price-to-earnings-growth ratio of 4.64 and a beta of 0.96. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $0.98 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts forecast that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.33%. Iron Mountain’s payout ratio is 412.70%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 4,458 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $20,175,156. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Kidd sold 4,458 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the completion of the transaction, the executive vice president now directly owns 62,938 shares in the company, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,124 shares of company stock valued at $12,563,361. Corporate insiders own 2.10% of the company’s stock.

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.