Chicago Capital LLC Has $12.25 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Chicago Capital LLC lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 21.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,053 shares of the financial services provider’s stock after buying an additional 17,961 shares during the period. Chicago Capital LLC’s holdings in Iron Mountain were worth $12,246,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IRM. Centersquare Investment Management LLC boosted its position in Iron Mountain by 7,892.6% during the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. Legal & General Group Plc boosted its holdings in Iron Mountain by 49.2% during the second quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after purchasing an additional 1,286,694 shares during the last quarter. AGF Management Ltd. grew its position in Iron Mountain by 76.3% in the second quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after purchasing an additional 972,101 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Iron Mountain by 11.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after buying an additional 475,849 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in Iron Mountain by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,298,330 shares of the financial services provider’s stock worth $116,356,000 after buying an additional 402,625 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Iron Mountain news, COO John Tomovcsik sold 2,866 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now owns 15,000 shares of the company’s stock, valued at $1,575,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction 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 disclosure for this sale can be found here. Insiders sold 30,503 shares of company stock worth $3,511,505 in the last ninety days. 2.10% of the stock is owned by company insiders.

Iron Mountain Trading Up 1.0 %

IRM stock opened at $125.76 on Friday. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $125.81. The stock has a market cap of $36.86 billion, a price-to-earnings ratio of 190.55, a price-to-earnings-growth ratio of 7.22 and a beta of 1.00. The company has a fifty day moving average price of $115.43 and a two-hundred day moving average price of $96.83. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79.

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

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a dividend of $0.715 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

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.