Raleigh Capital Management Inc. Increases Position in Iron Mountain Incorporated (NYSE:IRM)

Raleigh Capital Management Inc. boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.6% in the 3rd quarter, Holdings Channel reports. The fund owned 4,303 shares of the financial services provider’s stock after acquiring an additional 107 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Iron Mountain were worth $511,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Nepsis Inc. grew its stake in Iron Mountain by 37.5% during the 3rd quarter. Nepsis Inc. now owns 96,582 shares of the financial services provider’s stock valued at $11,477,000 after acquiring an additional 26,331 shares in the last quarter. West Branch Capital LLC purchased a new stake in Iron Mountain during the 3rd quarter valued at about $33,000. Cyndeo Wealth Partners LLC grew its stake in shares of Iron Mountain by 4.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 35,087 shares of the financial services provider’s stock valued at $4,169,000 after buying an additional 1,354 shares during the period. New Century Financial Group LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $252,000. Finally, Chicago Capital LLC grew its stake in shares of Iron Mountain by 21.1% in the 3rd quarter. Chicago Capital LLC now owns 103,053 shares of the financial services provider’s stock valued at $12,246,000 after buying an additional 17,961 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IRM. Stifel Nicolaus increased their price target on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays upped their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their target price on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,503 shares of company stock worth $3,511,505 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 1.8 %

NYSE:IRM opened at $123.44 on Tuesday. The stock has a fifty day moving average price of $115.43 and a 200 day moving average price of $96.96. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12-month low of $57.36 and a 12-month high of $125.81. The firm has a market cap of $36.18 billion, a PE ratio of 187.03, a price-to-earnings-growth ratio of 7.22 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is 433.33%.

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.