Ranch Capital Advisors Inc. Grows Position in Iron Mountain Incorporated $IRM

Ranch Capital Advisors Inc. increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,247 shares of the financial services provider’s stock after acquiring an additional 1,048 shares during the quarter. Iron Mountain makes up about 1.6% of Ranch Capital Advisors Inc.’s investment portfolio, making the stock its 18th largest position. Ranch Capital Advisors Inc.’s holdings in Iron Mountain were worth $3,636,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC purchased a new stake in Iron Mountain in the first quarter worth about $26,000. Golden State Wealth Management LLC purchased a new stake in shares of Iron Mountain during the first quarter valued at about $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of Iron Mountain during the first quarter valued at about $34,000. Wayfinding Financial LLC purchased a new stake in shares of Iron Mountain during the first quarter valued at about $37,000. Finally, Richards Merrill & Peterson Inc. purchased a new stake in shares of Iron Mountain during the first quarter valued at about $43,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 1.4%

Iron Mountain stock opened at $105.34 on Friday. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock’s 50 day simple moving average is $98.96 and its two-hundred day simple moving average is $96.84. The firm has a market cap of $31.11 billion, a PE ratio of 752.50 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm posted $1.08 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Finally, Barclays increased their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.83.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold 213,375 shares of company stock worth $20,347,156 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Company 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.