Ascent Group LLC Buys Shares of 6,795 Iron Mountain Incorporated $IRM

Ascent Group LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 6,795 shares of the financial services provider’s stock, valued at approximately $697,000.

Other institutional investors have also modified their holdings of the company. Financial Network Wealth Advisors LLC bought a new stake in Iron Mountain during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new position in shares of Iron Mountain in the first quarter valued at approximately $30,000. Ramirez Asset Management Inc. acquired a new position in shares of Iron Mountain in the first quarter valued at approximately $34,000. Wayfinding Financial LLC bought a new stake in shares of Iron Mountain during the first quarter worth $37,000. Finally, Richards Merrill & Peterson Inc. acquired a new stake in shares of Iron Mountain during the first quarter worth $43,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president directly owned 79,081 shares in the company, valued at $7,200,325.05. The trade was a 7.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,375 shares of company stock worth $20,347,156. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Saturday, September 27th. Jefferies Financial Group began coverage on Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective for the company. Finally, Barclays lifted 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. One equities 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 stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $116.83.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $106.44 on Tuesday. The stock has a market capitalization of $31.44 billion, a PE ratio of 760.34 and a beta of 1.06. The company’s 50-day moving average price is $95.89 and its two-hundred day moving average price is $95.03. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. Iron Mountain’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

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

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.